Miami’s Retail Market Takes Off, Malls Adding Stores

by Isaac Benmergui, Esq on November 1, 2012

The Miami-Dade retail market appears to have rebounded to 2007 levels so much so that malls are expanding by opening up more slots for stores. Dadeland Mall has full occupancy and is in the process of building on 102,000 square feet of two-story space for roughly 20 new retailers, six of which will be restaurants.

The growth of Kendall, with its apartments, hotels and medical facilities contributed to the decision to attract new business with an expansion.

Bal Harbour Shops is also planning an expansion. Bal Harbour and Church by the Sea reach an agreement that gave Bal Harbour Shops the right to tear down and develop the site at 501 96th St. on which the church has stood for nearly 70 years. In its place, Bal Harbour Shops will build a 50,000-square-foot, eco-friendly church on other land it owns at Bal Bay and Park drives. The ancestor of Bal Barhour owner said his family had been in talks with the Church for decades. The new site will support a 230,000-square-foot addition to the existing 450,000-square-foot retail property. About half the space will allow existing stores to expand; the rest will accommodate new brands.

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