MIAMI BEACH (CBS4) -- There's no place like magical Miami Beach. The city is home to opulent Ocean Drive and lovely Lincoln Road. But there's one stretch along Collins Avenue that has remained nameless until recently.

Gregory Rumpel, Executive Vice President of Jones Lang LaSalle Hotels, is part of a team that has coined the phrase "SOBE 10" for a nameless stretch of Miami Beach.

"We've never had a term for this section. It was always defined relative to the likes of the Delano which has always been a main feature of the beach," said Rumpel.

Now that's changing. The "SOBE 10" area starts at 25th Street and Collins Avenue and extends 10 blocks south to 15th Street.

Dozens of high end hotels and restaurants are all a part of "SOBE 10."

At the South Seas Hotel on Collins, manager Miguel Ramirez gave the new name a thumbs up.

"Anything to boost more business," said Ramirez but everyone likes the new name.

"I don't think it sounds very good," said John Edwards from England.

Others like the idea of naming the neighborhood.

"It sounds cool, yeah, to me. I'm an old guy, though," said Paul Snead of Hialeah.

For now, Rumpel says his company and businesses in "SOBE 10" are eager to pump up investment in the area.

"There's hundreds of millions of dollars that's going to be invested in this one mile strip over the next 24 months," said Rumpel.