PMAT CocoWalk, LLC has reached an agreement to modify the terms of the loan on the property. The completion of the loan modification will allow CocoWalk to "complete its re-tenanting and reposition itself as the premier outdoor center in South Florida," according management.
The new Muvico theater is proceeding with construction and is now scheduled to open in May. I was invited to tour the new place while it is under construction, and I'll take pictures and share that soon.
This opening will provide significant revitalization of the property and for Coconut Grove. The new theater will be the first premier, all-digital theater in Miami-Dade County and will draw from a significantly expanded trade area.
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