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Dolphin Mall Is One Of America's Most Productive Real Estate Assets

Dolphin Mall Is One Of America’s Most Productive Real Estate Assets

Dolphin Mall is booming, according to a new presentation by owner Taubman Centers, Inc.

The mall opened in 2001. One year later, it was already being criticized as an underperformer, and an activist investor said in 2003 that it should never have been built. After 2 years, Taubman bought out their 50% partner for just $1 plus property debt.

Now, Taubman is calling the mall “one of the most productive assets in the country.”

36 million shoppers visit the mall annually, Taubman says. That is more traffic than the Magic Kingdom and Universal Studios combined.

Sales estimates for the mall are now $850 per square foot. Earnings from the mall have grown at a compounded rate of 14% annually in year 1-12.

In 2016, Taubman cancelled plans to co-develop an enclosed mall at Miami Worldcenter. At the time, they said they had agreed to preliminary terms to manage leasing on a High Street retail plan there.

From Taubman’s investor presentation:

(photo: Bobak Ha’Eri)

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Anonymous
Anonymous

It’s a closer option than Sawgrass for tourist visiting that want to shop an outlet mall.

Anonymous
Anonymous

Fake news! Malls are dying, malls are evil! West Miami is horrible, bla bla bla. LOL. Good for them, I wish them much more success. Can’t wait to see American Dream Mall.

Anonymous
Anonymous

That presentation is pure BS. Dolphin Mall is dead. It is dated and any many stores are closing. They are trying to compete with Sawgrass, but don’t want to invest in renovating it. Dolphin only attracts cheap tourism in transit from/to the Caribbean and South America. The Colonnade at Sawgrass does much better and attract tourists who come to spend the day shopping on High-End Luxury retailers.
How do I know?
Guess where I work.

Anonymous
Anonymous

I couldn’t Agree more. Those numbers and projections Taubman is making are pure nonsense and BS. Dolphin Mall SUCKS and that’s a fact. That’s the reality of it. It’s the go-to high end mall for Hialeah……

Miami Hurricane
Miami Hurricane

Look any MBA can massage the numbers, but the questions is why they are doing it and to what degree.

If they actually changed how they measure visitors (or are subsidizing something somewhere to boost short term growth, e.g., downtown express shuttles), it’s likely so they can flip this asset to a foreign investor considering the American Dream mall would present a major threat to projected long term earnings.

Anonymous
Anonymous

You can say anything. We don’t know you, and weather or not you work there. Even if you did, it doesn’t mean that you know anything about the income of the entire mall. Shut up!

Anonymous
Anonymous

A Mall defender got offended

Anonymous
Anonymous

You’ve got one thing right, West Miami IS horrible.

Anonymous
Anonymous

10,000 visitors a day right? If it was 100,000 it would be more than the projections for American Dream (which is a much bigger project)

Anonymous
Anonymous

Bleh, outlet stores are a scam for idiots when you can get main store stuff online or at off-price retailers (TJX, Ross, etc.) for cheaper. The other half of the Dolphin Mall and Sawgrass Mills are dodgy electronics stores catering to Third World tourists who argue with MIA’s baggage check-in over why they can’t bring a TV on board.

Anonymous
Anonymous

Outlet Malls work for foreign visitors, especially South America and the Caribbean. Dolphin Mall still alive because it’s proximity to MIA

Anonymous
Anonymous

Okay Mr. Taubman employee.

Anonymous
Anonymous

Hurry up! There is a huge sale at BURLINGTON COAT FACTORY this weekend. Buy a pair 2nd category Clearance shoes and get one free soda refill at Sbarro.

Love this city
Love this city

Perfectly said.

Anonymous
Anonymous

A lot of “mall experts” on this board.. LOL ya’ll crack me up!

Maria
Maria

This mal) is a is not an outlet. That is just bs. And the owner of the mall is not a good source of unbiased information.

Anonymous
Anonymous

Dolphin Mall is gonna be a ghost town IF American Dream Mall gets built.

Anonymous
Anonymous

really?? ?

Anonymous
Anonymous

Yup! I can see it in my magical ball. lol

Im just here for the comments
Im just here for the comments

Would that be the left or right testicle?

Anonymous
Anonymous

Most of those “visitors” are going to ikea and no where else

Andrewn2
Andrewn2

IKEA is not part of the mall.

Anonymous
Anonymous

The owner says their mall is booming. How suprising.

They
They

They trynna find an astute “investor”…before American Dream gets built.

Anonymous
Anonymous

Ugly!