Here’s why Miami is said to be the strongest market in the country for retail, according to a presentation made to retailers by Brickell City Centre (it appears to have been prepared before the mall was opened, but is still being distributed).
Of the top 50 most productive malls in the country, seven are in Miami, the presentation states. No other market has as many top 50 malls, the presentation shows.
Los Angeles, which is double the CBSA population, ranks second with 5 malls. Miami ranks eighth by CBSA population but is still first for top 50 malls.
According to the presentation, the two most productive malls in the country are in Miami, as are 4 of the top 15 most productive malls, 7 of the top 50, and 10 of the top 100. Miami is also home to five malls that perform at over $1,000 per square foot in sales, and two malls that do over $1 Billion in total sales.
Last Month, Swire Properties told investors that retail sales at Brickell City Centre increased 153.4% in 2018, compared to the prior year.