MIAMI—Best Buy has inked a long-term lease renewal at Aventura Commons. Best Buy will stay put in its 45,729 square feet near the Aventura Mall.

Aventura Commons is a 267,000-leasable-square-foot shopping center located on Biscayne Boulevard (US1) between Northeast 210th & 213 Street in Aventura, FL. Berkowtiz Development Group owns the retail asset.

“Demand for space continues to outpace availability in Aventura, and in particular, at Aventura Commons,” says Michael Berkowitz, president of Berkowitz. “We're proud to be home to one of Best Buy's most profitable locations, and look forward to continuing this success for the long-term.”

Berkowitz notes that the Miami retail sector is experiencing a significant uptick due in part to an improving housing market, an increase in tourism, and growing international trade. With the overall market vacancy at an all-time low and demand for retail space climbing, Aventura Commons continues to outpace the market by maintaining 100% occupancy.

Aventura Commons is located between Gulfstream Park Racing & Casino and Aventura Mall, which is ranked as one of the top five highest grossing malls in the country in sales per square foot. Other national tenants include Target, Whole Foods, PetSmart, and Ulta.