Primary developers of the Miami Design District and Brickell City Centre are reporting strong retail growth numbers for 2019.
According to a report in the Wall Street Journal, retail sales in the Miami Design District, an 18-square-block creative neighborhood between Wynwood and Little Haiti, grew 19.5% through the first nine months of 2019.
Similarly, shareholders of Brickell City Centre learned last month that retail sales increased 33.7% through the first nine months of the year.
Much of the retail sector’s growth is attributed to record tourism and population growth. A total of 6 million square feet of new retail space has been built in the county since 2018, compared to 4 million square feet completed in 2016 and 2017, according to the Next Miami.
As ComReal has previously reported, Bal Harbor Shops and Aventura Mall are also undergoing a major expansion projects of 300k and 315k square feet, respectively, further indicating the strength of the sector.
As the holiday season approaches, there’s no better time to take advantage of our city’s bustling market. Contact ComReal today for any of your sales or leasing needs.
