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Brickell City Centre Traffic Up Double Digits, Swire Shares Hits Record

Brickell City Centre Traffic Up Double Digits, Swire Shares Hits Record

Brickell City Centre is getting busier.

Kieran Bowers, President of developer Swire Properties, told Miami Today this month that the company is very satisfied with how the mixed-use project has been received.

Swire is now seeing double digit month-over-month growth in foot traffic and in cars using the parking garage, he said.

The retail component has reached 92% leased, with 82% of tenants open. Office space is 100% leased.

Brickell City Centre’s East Hotel is in the mid 70% range of occupancy, with room rates outperforming competition, according to Bowers.

In Hong Kong, Swire Properties shares have been hitting new record prices this month.

 

Photo taken June 8:

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Miami1
Miami1

Ok then, start the second phase already!!

Anonymous
Anonymous

Make sure the second phase have air conditioning and a more happy color than gray

Anonymous
Anonymous

Agreed!

Anonymous
Anonymous

Great place!. Wish they had more affordable restaurant options.

Anonymous
Anonymous

Success story.. all the critics are crying today.. LOL

Anonymous
Anonymous

Yeah, where are all the experts now who bash the place by calling it dead? Some people in Miami really need to learn the meaning of the word “patience.”

Anonymous
Anonymous

LOL. Half these stores/restaurants will not make it through their base term. Rent is simply too expensive and they’ll shuffle in and out like most of the city.

anonymous
anonymous

BCC does not allow just anyone to rent in their spaces. The business has to be very established. At worse BCC will probably offer incentives… they can afford it.

Anonymous
Anonymous

Thanks for letting us know Nostradamus.

ILoveMiami
ILoveMiami

I was one of the nay sayers. I’m happy foot traffic is up, but I still think some stores will close. Been there only twice. Parking is too expensive (no I won’t wait for hours to take the stupid train). Made one purchase at Diptyque and my wife bought $18 handsoaps somewhere else. We will see. Maybe you guys are right…it will flourish. I really hope it does but I’ve seen better places tank after the initial curiosity phase gets old. For now, I’ll eat some crow.

Dirk Digler
Dirk Digler

Not trying to impress anyone…but I’ve spent some time there 2 out of the last 3 days. The $350 bar tab for two surely upped the average guest ticket for the Diptyque purchase.

If you are into sweets…that Roy Renee place on the 3rd floor is phenomenal. BCC has great architecture, and great appeal for people like me.

Anonymous
Anonymous

“I’ve seen better places tank after the initial curiosity phase gets old.”

Really… name one?

ILoveMiami
ILoveMiami

OMNI. When it first opened it was filled with unique and one of a kind boutiques. There was also a whole section dedicated to designers like Emilio Pucci, Gucci and Chanel. Lots of high end stores. They closed within a couple of years. Don’t bother with an explanation, you weren’t even born yet. Even the JC Penner (yes) had a wine boutique that sold French champagne.
Another example is Merrick Park. Several of the original stores have been replaced by Victoria’s Secret and the likes. So there. Don’t be so quick to judge. Unlike most of you, I can speak from experience having lived here much longer than you’ve been alive. And please, don’t make another stupid comment about my generation needing to go away and die off. Be respectful otherwise I can’t take you seriously.

Dirk Digler
Dirk Digler

The Omni must have been around for well more than a couple of years. There was a Jordan Marsh, a Radio Schack, and probably a typewriter store!
It was the closest movie theater for South Beach, since there wasn’t a first un movietheater there in the 80’s and 90’s.
I don’t recall anything close to Sax Fifth Avenue or any of the boutiques that BCC offers, but the Omni was dangerous and uncomfortable as I remember it. When Cocowalk opened, there never any reason to go to Omni.

anonymous
anonymous

You cannot compare the OMNI with BCC. BCC is in a VERY established neighborhood. The OMNI when it originally opened did not have the traffic that Brickell currently has… Not even close. Brickell has traffic at all hours of the day. I have lived in downtown Brickell since 2007 and have seen the growth in the last 11 years. It started off slow, but the growth of people living in that area has increased rapidly in the last five years. The demographics have completely changed as well. It is so much more diversified now than it was in 2007. Also, the people living The Grove, Key Biscayne and Brickell are not exactly broke… If you can afford to live in these neighborhoods, you can afford to eat at those restaurants. BCC is the place where those surrounding neighborhoods will shop. Those folks are just an Uber ride away. Also, with the tax changes, I predict we will see an increase of affluent individuals move to Miami specifically Brickell and surrounding neighborhoods. Every year, BCC will get better and better.

Anonymous
Anonymous

Dude, you are old as dirt, but even if you were not, you are comparing apples to oranges. I am only 31 but I was born at Jackson and grew up at the Venetia. The reason why the Omni failed was because the area went to crap in the 90’s. I remember my parents would not even let me walk by myself because there were homeless people and prostitutes even in broad daylight. Unless that happens to Brickell in the next few years, BCC has a bright future in front of it.

Anonymous
Anonymous

Boy, you sure are one funny assuming simp. If you think the Omni Mall was a better Mall than BCC, then that’s your opinion. But as I remember, the Omni Mall wasn’t built with the residential density around it like BCC, nor did it have three floors like BCC. And the village at Merrick Park hasn’t tanked, you may not like some of the stores, but it hasn’t “tanked” yet.

“Unlike most of you, I can speak from experience having lived here much longer than you’ve been alive. And please, don’t make another stupid comment about my generation needing to go away and die off. Be respectful otherwise I can’t take you seriously.”

We see that this guy is one person that’s very assuming and easily insulted and enraged.

Anonymous
Anonymous

Omni was killed by the neighborhood surrounding it collapsing. All the neighborhoods around BCC are excellent.

Anonymous
Anonymous

All good comments… BCC is unique in that it has residences, office workers, and hotels that support mall..

More importantly, downtown living has become popular again and everyone is downsizing to condos and city living.. also people are no longer afraid to see diversity.

ILoveMiami
ILoveMiami

I’m neither insulted nor enraged. You are the one that “assumes”. Where did I write that I don’t like “some of the stores” in Merrick? I wrote that some have closed, as some WILL close at BCC. The fact that Omni didn’t have three floors has nothing to do with stores closing either. You can’t compare the Titanic to one of today’s cruise ships, but it was luxurious in 1912. See…you are missing the point. BCC is beautiful. I love the design, the look and feel of it. What I’ve said from the get go is that (my opinion) I don’t think we have the market to sustain some of these stores. Let’s talk again in a couple of years…you funny little assuming simp you! Besitos.

Anonymous
Anonymous

Are you psychologically mad or just mentally delusional?

You wrote “I’ve seen better places (meaning malls) tank.” And then you say “You can’t compare the Titanic to one of today’s cruise ships.”

What?

You’re the one who already made the comparisons with these Malls! And then with your twisted mind you say “See…you are missing the point.”

Is this person crazy or what?

“Let’s talk again in a couple of years…you funny little assuming simp you! Besitos.

Yeah, later for you to Paquito.

anonymous
anonymous

First off, BCC does not allow just anyone to lease in their offices or retail space. You must be an established business to get a call back from the leasing office. They are very picky as to who they are ALLOWING to lease in their retail stores. BCC has done everything right. What usually drives a high-density mixed-use development like BCC is the office building(s). As mentioned in the article, they are already 100% leased up. BCC has all the elements in place that make a mixed-use development successful: office, hotel, residential, retail, entertainment, excellent location (in an already established urban neighborhood), next to public transportation (metro mover), close to other high-density neighborhoods and close proximity to major highways. The demographics are aligned with the businesses they have put in place in the mall. This development is not relying on suburb clientele… the target market for this mall are the folks living in Brickell and surrounding neighborhoods. When developers do their market analysis on demographics they only go as far as 5 miles out… that is their target audience. Also, Brickell is becoming a destination place much like Miami Beach. South Americans love Brickell… BCC is also relying on those… Read more »

Anonymous
Anonymous

There are some huge differences between Omni 40-50 years ago and BCC Today.
1-40 years ago the American suburban nightmare killed the American urban centers as a shopping destination.
2- They built the Bal Harbour Mall, so the white middle class who stayed in the quasi-segregated Miami Coastal neighborhoods had a ”safe” place to go spend their money. Today Bal Harbour is dead, The Design District kill it.
3-Population density and demographics: while BCC is within walking distance of thousands of Brickell and Downtown tourists and residents, Omni Depended on people driving from the suburbs.

Anonymous
Anonymous

Design district did not “kill” bal harbour. The Design district is smoke and mirrors and absolutely devoid of character, sales and foot traffic, apart from possibly Hermes. There are vacancies everywheee. bal harbour continues to be busy, restaurants and boutiques. Brickell City Centre has decent foot traffic some stores are faring well, others are not.

ILoveMiami
ILoveMiami

All good points. Let’s give BCC a couple of years and see if I’m totally wrong.

Anonymous
Anonymous

can you leftist quit throwing around the term quasi-segregated. How is it segregated when the coastal areas are the most visited. And I hope when you say white you’re including Hispanics since 90% of them living in miami-dade are white.

Anonymous
Anonymous

Excuse the redundancy, but you must be a retarded racist republican. What the hell a Tourist would do in a residential neighborhood. I’m referring to the South Florida coastal neighborhoods, where 2% or less nonwhite residents. For example, when you go drive to places like MorningSide, Bellemeade, etc your car plate will be registered at the gate, even though those streets are serviced with public funds (tax-payers money).

Anonymous
Anonymous

Yeah I contribute to that increase in foot traffic but to Casa Tua. The only question that matters is if store sales are up or down year-over-year.

anonymous
anonymous

Probably down… but this is everywhere… the retail/store issue is not only a BCC problem it is an EVERY mall problem. Shopping habits have changed… people are buying online. That is the reality of life.

Dirk Digler
Dirk Digler

I have noticed that most people, unless you are in the retail or commercial real estate business, are shocked to learn that only 11% of retail sales are consummated online.

ILoveMiami
ILoveMiami

Correct. Thank you.

mondocondo
mondocondo

Exactly. Same store sales, or trailing twelve months’ sales productivity, is the vital metric for measuring a mall’s performance. 82% occupancy after being opened for 18 months is nothing to write home about. At least it used to be, but maybe in the new digital shopping age the paradigm has shifted. But this is patient capital, and not over levered. And it appears that the mall doesn’t have to worry too much about ankle biters poaching stores, or for the near future Miami World Center either. Cheers.

Anonymous
Anonymous

Many of the stores sales are still flat. Foot traffic is definitely up and the restaurants, especially Casa Tua are doing well. But how many people do you see actually walking around with a shopping bag having purchased anything? One Silverspot opens downtown, there will also be some loss of customers at CMX. Beautiful movie theaters and prices are less.

anonymous
anonymous

I think stores will remain flat or decline. Shopping habits have changed. People shop online. But restaurants will keep the mall busy. Either way, the driver of this development is probably the office building… I am sure they would prefer to see their mall with lower vacancy rates, but stores nationwide are closing, not expanding.

A. Nonymous
A. Nonymous

10pm last Saturday night, CMX theater and restaurants were hopping – good to see.

Anonymous
Anonymous

I work at WeWork office and mall is busy when I go to lunch and when I go home at night. Apple Store, Restaurants, La Centrale, Coffee shops are always packed.

Anonymous
Anonymous

Brickell One should be mostly office space, the office market is booming in Miami.

Anonymous
Anonymous

Looking for the guy that always says BCC is dead.

Anonymous
Anonymous

He melted under the heat of the Mall, last summer

Anonymous
Anonymous

Oh don’t worry, he and others will be here and whining as usual about this place.

Anonymous
Anonymous

10% is double digits. 😉

Anonymous
Anonymous

So, does this mean we’re getting One Brickell City Centre with better architecture which isn’t a box with a chunk missing at the top?

Gringo
Gringo

Great location, quality…

Anonymous
Anonymous

Foot traffic is up because it is getting hot as hell in Miami and who wouldn’t want to walk two blocks in a cooler space?

Anonymous
Anonymous

How is the movie theater doing? Hope they lower the prices now that they will have competition in downtown!

Anonymous
Anonymous

Pros: Apple Store, CMX, Zara, Hugo Boss, Saks 5th Avenue, el Centrale
Cons: all the other stores that no one has heard of and are ridiculously overpriced. Whomever was selected to fill the mall made terrible choices. Merrik Park has far better stores.

BBC is a joke!
BBC is a joke!

Are we talking about the same place?? Most stores are bleeding cash and still hundreds of apartments for sale!! Yes this is BCC!!

Anonymous
Anonymous

Now that we have the people , the consumers and the stores and the center is or might be profitable… , let’s get air conditioning for the horrid summer!!!!

Dirk Digler
Dirk Digler

I was there this afternoon…it was a hot day on Miami Ave, but being inside Brickell City Center was very pleasant, and it was packed. Great crowd with lots of families taking pictures at the little “experience” photo opportunity things that BCC set up.