Brickell City Centre officially has an anchor retail tenant.
Saks Fifth Avenue plans to open a three-floor, 107,000-square-foot store at the $1.1 billion mixed-use project by fall 2016. The City Centre location joins Saks’ other Miami-Dade County stores at Dadeland mall and Bal Harbour Shops. Whitman Family Development, the owners of Bal Harbour Shops, are partnering with Swire Properties on the development.
“It’s a milestone for us and it’s a true achievement on our part to secure such a fantastic, luxury brand as our first announced tenant,” Swire president Stephen Owens told the Miami Herald. “Saks’ commitment to join us is a further confirmation of the luxury interest in Brickell and in urban Miami.”
Another large mixed-use project in the city’s urban core, Miami Worldcenter, landed Bloomingdale’s and Macy’s as anchor tenants late last year. Owens noted City Centre will only have one luxury anchor – Saks – with restaurants, shops and entertainment tenants filling the rest of the development’s retail space. [Miami Herald] — Eric Kalis