MIAMI-Swire Properties just announced a slew of new retail tenants joining the roster at Brickell City Centre. The $1.05 billion mixed-use project’s 500,000 square-foot, open-air shopping center under construction in the heart of Brickell just won 40 new retailers to its growing list, including first-time Miami flagships.
Italian fashion house Armani Collezioni, major women’s clothing chain Intermix, and REISS, a modern global fashion brand with a celebrity following are among the most notable new retailers to ink deals. With construction well underway, tenants will soon start outfitting their stores. Construction of the condo, office, and hotel components are set to open this year, ahead of the retail component.
“As Brickell City Centre nears completion, our shopping center has already solidified its status as an urban shopping metropolis in the heart of the community,” says Debora Overholt, vice president of retail at Swire. “Our multifaceted roster of global luxury and premium brands will no doubt position Brickell City Centre in the forefront of Miami’s retail evolution.”
Luxury brands will be located throughout the street-accessible first floor of Brickell City Centre’s retail component. Others will open on the second and third floors, emphasizing premium and contemporary retailers along with a mix of beauty, home decor, jewelry, apparel and other stores. The food and beverage offerings are stationed on the fourth floor.
“What’s most interesting and critical to note is that Miami finds itself at the epicenter of the two most important demographic trends impacting retail in United States today: the rising impact of the Millennial shopper and the growing influence and buying power of the Hispanic consumer,” Garrick Brown, vice preisdne of Retail Research at Cushman & Wakefield, tells GlobeSt.com. “Because of these two factors, what happens in Miami is critical for the retail sector to watch because it just may become the model for multicultural high street retail for other major markets in the United States, particularly those with a large Latino demographic.”
Brickell City Centre is part of the urbanization trend that’s hitting Miami. You can read more about that in my recent Real Estate Forum feature.