As proof that retailers are following the development boom in Miami’s Brickell financial district, six more stores and restaurants are scheduled to open this year at Brickell City Center.
The new tenants will arrive at the mall located at 701 S. Miami Ave. The new stores will follow luxury candle and perfume maker Jo Malone, Italian clothing store Calzedonia and jewelry retailer Blue Nile, which opened in the last months.
Retailers and restaurants want to take advantage of Brickell’s growing population and business, according to David Martin, vice president of retail at Hong Kong-based Swire Properties, which owns and operates the mall.
New tenants include the Starbucks coffee chain, Levi’s denim clothing brand, Café Americano restaurant, Luca Faloni Italian menswear store, The Henry American restaurant and local tea vendor Boba Miu Tea. Next year, gourmet burger chain Black Tap Craft Burgers & Beer — known for its wacky shakes — is expected to join them at the urban mall.
Brickell, already a concrete jungle, keeps adding expensive condominium towers, like Lofty BrickellThe Residences in 1428 Brickell Y St. Regis Residences. The office market is also red hot: technological, financial and legal powers from outside Florida have installed or will soon, such as the global megabank BNP Paribas Y top US law firms Kirkland & Ellis Y sidley austinwho signed leases in the 830 Brickellthe most expensive office tower in the city.
And, in what may be the most high-profile US corporate move announced last year, Chicago-based hedge fund operator Citadel and its securities-trading arm, Citadel Securities, are moving their headquarters to Brickell. Billionaire Ken Griffin, founder and CEO of Citadel, spent hundreds of millions of dollars on residential properties in Miami-Dade and Palm Beach Counties, including paying a Miami-Dade record $106.9 million for the Adrienne Arsht estate, facing the sea, in Coconut Grove.
Originally, Brickell City Center was intended to satisfy the luxury shoppers of Miami-Dade’s urban core with expensive restaurants and high-end shops. He then gravitated towards experiential retailers, such as Puttshack indoor miniature golf, with a bar and restaurant, events and a mix of tenants for families and young couples nearby. Now, the mall’s managers said their target is consumers between the ages of 21 and 45 who are willing to buy goods and services at widely varying prices.
“The mall had some teething problems, from opening without a full list of tenants, to the lackluster reception of its food center, to the arrival of a pandemic just as the center was starting up. Even though [es cierto que]“As with most new commercial projects of this size, it’s never perfect from the start,” said Frank Begrowicz, director of commercial brokerage at Cushman & Wakefield.
“[Por decir algo] To their credit, they took those challenges and turned them into opportunities to upgrade and improve their tenant mix.”
Mall managers declined to provide the price range for monthly rentals at Brickell City Center or the total number of visitors in 2021 and 2022, but said the mall is 93% occupied by shops and restaurants: that means 112 of his 121 spaces are rented.
The influx of new tenants reflects a regional trend, Begrowicz said.
“Brickell has been the clear winner when it comes to attracting a good part of the immigration of inhabitants and companies that came to Miami in search of a better quality of life and the tax advantages that Florida offers, compared to other American cities in first order,” he said. “However, this is truly a Miami success story and the entire market is benefiting from being on a national stage.”
The population growth of the region it has attracted many independent businesses and national chains. Other communities are also experiencing waves of new shops and restaurants, such as miami beach Y Coral gables.
These are the shops and restaurants coming to Brickell City Centre:
▪ Starbucks, in September 2023.
▪ Levi’s, in February 2023.
▪ Café Americano, in February 2023.
▪ Luca Faloni, in February 2023.
▪ The Henry, in June 2023.
▪ Miu Tea, before September 2023.
▪ Black Tap Craft Burgers & Beer, by March 2024.
This story was originally published on January 29, 2023 3:21 pm.
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