Brickell City Centre Mall Achieves 97% Occupancy, Experiencing a Surge in Retail Sales (Nov 2023)

Brickell City Centre Mall Achieves 97% Occupancy, Experiencing a Surge in Retail Sales (Nov 2023)

Brickell City Centre's shopping mall is experiencing a notable surge in retail occupancy and sales volume. According to Swire Properties, a publicly traded company, the mall achieved a 97% occupancy rate as of September 30, compared to 89% at the end of December 31, 2022. It's important to note that these figures encompass the space allocated to potential tenants who have expressed their intent through signed letters.

Additionally, the retail sales volume at Brickell City Centre has seen a substantial increase, marking a 16.1% growth through September 30, as compared to the corresponding period in 2022.

Swire Properties maintains a majority ownership stake in the mall, holding 62.93%, while Simon Property Group and Bal Harbour Shops possess minority stakes of 25% and 12.07%, respectively.

Looking ahead, Swire is gearing up to commence the next phase of the project, which involves the groundbreaking of a near-supertall office tower named One Brickell City Centre. Notably, this upcoming phase will predominantly consist of office space, with a modest addition of only 17,014 square feet allocated for retail and food and beverage establishments.

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Brickell City Centre Mall Achieves 97% Occupancy, Experiencing a Surge in Retail Sales (Nov 2023)

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