Despite higher levels of consumer purchasing online and economic slowdowns in Latin America, Miami's high-end retailers are not only surviving, they are thriving. Take one look at the luxury retail market in Miami, and you will bear witness to the multiple real estate projects that are transforming the landscape of Miami's urban and suburban areas.
Old, traditional malls are being demolished in favor of sleek, open-air spaces reminiscent of infamous Rodeo Drive. Shopping center renovations and expansions as well as several new, mixed-use commercial projects are popping up throughout South Florida, incorporating a variety of high-end retailers, luxury hotels, and epicurean dining.
The legendary Aventura Mall, one of the top five highest-grossing malls in the country, is completing a $200 million expansion. Along with 300 of the most iconic tenants including Fendi, Louis Vuitton, and Cartier, the new addition will add 35 high-end retailers and boutiques, an indoor/outdoor rooftop garden for private events, as well as additional dining options and parking.
Nearby, the ultra-luxurious open-air Bal Harbour Shops celebrated its 50th anniversary and is making plans to grow. Boasting retailers such as Chanel, Prada, and Valentino, the shops plan to double in size and improve the overall customer experience.
Brickell City Centre, in the heart of downtown Brickell, is slated to open in October, 2016. This new, mixed-use development offers an open-air, 500,000-square-foot shopping center cooled by a unique, innovative climate ribbon. Just a few blocks away is the ultra-luxurious Design District, which is expected to double in size by 2017. New high-end boutique retailers include Dior, Mrkt Deux, Tod's and Tory Burch.
As if that weren't enough, Miami Worldcenter, one of the largest master-planned projects in the country, will be a 10-block, mixed-used development featuring world-class amenities of retail, hospitality, and residential space. The development rush is on!
With the intention of creating a sleek, cool, and hip destination, CocoWalk in Coconut Grove and Sunset Place in South Miami are getting a combined $200 million makeover. CityPlace Doral is another mixed-use project under development with 250,000 square feet of open-air retail.
Finally, the massive American Dream Miami, led by the same developers that created Mall of America, is slated to develop 200 acreas neaar Miami Lakes. This unique mixed-use space will feature 5 million square feet of upscale retail, dynamic entertainment and gourmet dining expeiences. The project is expected to include luxury hotels, a theme park, an indoor ski and skating rink, an aquarium and much more.
The major investments in retail aren't limited to Miami-Dade. In Broward, Plantation's Fashion Mall is in the process of a $300 million redevelopment. The developers are demolishing the old mall in favor of a state-of-the-art, open-air shopping center with dining, hospitality, luxury apartments, and retail. And America's largest outlet mall, Sawgrass Mills, is adding a new section called Town Center. The addition will include fine dining, 25 retailers, and parking. Developers are also building a seperate, 500,000 saquare-foot mall called Metropica just a few yards away.
Interested in setting up shop in one of these exclusive new properties? Whether you are considering upgrading the design of your retail store, building out a new retail location, customizing retail displays, or expanding a current space, StoreTech+co is the forward-thinking, experienced partner that brings vision, progressive design, and success to your project.
High-end retailers including Diane von Furstenberg, Rene Caovilla, and Wolford's in Bal Harbour Shops, and Etiqueta Negra, Omega, and Red Valentino in Aventura Mall have tapped StoreTech+co for its 30 years of design and build experience as well as its expert insight into the newest trends and the corresponding investment returns. View our recent U.S. and Caribbean builds by clicking here.
Your project and best interests are our primary focus. For assistance with your retail interior build out and renovations, contact us at (561) 272-4655.
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