MIAMI—You might call them the Big Three. No, it's not Wade, Bosch and James. It's Swire, Whitman Family Development and Simon Property Group. The companies just announced a three-way partnership to jointly develop the retail component of Brickell City Centre.
“Brickell City Centre is on its way to redefining urban living in the Brickell neighborhood, and we feel that this partnership will further enhance its retail component to offer an unparalleled lifestyle experience in Miami,” says Stephen Owens, president of Swire. “Simon Property Group's and Whitman Family Development's expertise and proven track record of success in developing and managing high end shopping centers in the United States promises to broaden Brickell City Centre's appeal to a wide spectrum of visitors, including Miami's high-net-worth residents and international clientele.”
Swire remains the primary developer of the mixed-use project. Simon and Whitman will share the role of co-developer for the retail component. Whitman and Swire Properties entered a partnership in January 2013 to co-develop Brickell City Centre's 500,000-square-foot shopping center. Matthew Whitman Lazenby, president and CEO of Whitman, calls the partnership an “exciting collaboration allows us to further fulfill our shared vision and bring the right mix to Brickell City Centre.”
Simon brings more than 55 years of international experience in the premium and high-end retail market. The company also operates a successful South Florida portfolio. Simon developed several premium shopping centers in the Miami area.
Richard Sokolov, president and COO of Simon, says, “We have already seen strong interest from retailers who have enjoyed great success with us around the country and who are very excited to join us at Brickell City Centre.”
Brickell City Centre has seen several milestones in recent months, including the signing of Saks Fifth Avenue as its luxury retail anchor and the topping off of EAST, Miami hotel, Swire Hotel's first US venture. The first residential tower, Reach, is now over 80% sold, and it was announced that Brickell City Centre will also house the Mexico-based ultra-luxury dine-in theater, Cinemex.
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