Posts

, , , ,

Miami Shopping Malls

Miami-Design garage

Miami-Design garage

Miami Shopping Malls

Miami is unique and full of paradoxes: A city chosen by the old to retire and by the young to party. A place where people do business in shorts and 12 year olds wear legitimate Chanel handbags. The land of  beach parties and everyday multimillion dollar transactions where Bentleys coexist with skateboards and a new sophisticated art scene  born in the reign of the kitsch makes a mark in the world.

Miami shopping keeps adding to the list of breaking US records. We are quickly climbing the ladder of the top 5 in many areas, from the number one cruise capital to the most active airport. But without doubt, the most salient feature of Miami culture is a special emphasis in shopping, so we are also breaking records with the mall that sells the most per square foot (Aventura Mall) and now the largest shopping mall in the country: American Dream Miami Mall. The land deal for 82 acres in NW Miami Dade County by Interstate 75 and Florida Turnpike just closed, and Triple Five Group is moving to the next stage in the process of bringing to life this mega mall and theme park. The entire project is 225 acres, impressive size even for Miami shopping standards!

Bal Harbor Shoppes which used to be “the” destination for shoppers that walk in Louboutin shoes is expanding to keep up with the fierce competition for the attention of the privileged few, who are not so few in Miami any more. Aventura Mall has the largest Cartier store in the country along with many other luxury designers. Brickell City Center will allow the financial private banking crowd to shop without leaving the area. The Design District, an open shopping mall valued at $2.2 billion  has a hard to match glamour for those who prefer the outdoor Latin and European shopping style. After all, the temperature is irrelevant when you are wearing Hermes and parking at a garage that is a piece or architectural art. The Design’s District 283,000 ft City View garage wows shoppers from the moment they park  with two public art pieces by John Baldessari and a jaw dropping facade by Leong Leong and Iwamoto Scott.  And of course, for the bargain hunters there is always Sawgrass Mall.

The impact of Miami Shopping goes far beyond a fashionista dream, bringing jobs, infusing life and potential to the real estate around it and creating interesting possibilities for developers and investors. Whether you wear Prada sunglasses or not, if you are serious about investing in Miami real estate, Miami shopping trends are something to watch…

Contact us at buymiamirealestate@gmail.com and let’s discuss intelligent options for real estate in Miami.

, , ,

Miami Design District properties: from dingy warehouses to $2.2 billion premier luxury retail mall

Miami Design District

Miami Design District

Design District properties: from warehouse district to $2.2 billion luxury mall

Blackstone group has secured a $600 loan for a luxury mall at the Design District. According to Reuters, Bank of China will provide $250 million while Blackstone will provide a $100 million mezzanine loan. Deutsche Bank and Credit Agricole will split the balance.

A partnership which has luxury mogul  Louis Vuitton Moet Hennessy at its core is building 1.2 million square feet of retail space across 20 buildings in the Design District. Half of the 120 stores in the plan have opened in 2014, and it is already impressive with Louis Vuitton, Cartier and Piaget stores around a glass courtyard with a sculpture by Buckminster Fuller.  But you should hold your jaw from dropping until you see the full project completed by 2016, valued at $2.2 billion…that’s a lot of luxury va-va-voom. 

Design District properties have shown again that the true magic kingdom is not Disney’s but Miami’s. An area that was not long ago a bunch of ran down warehouses where you would not even get out of your car after sundown is now one of the most glamorous spots you can imagine. The value of Design District properties has increased astronomically adding in many cases more than one zero.  The big question for real estate investors appears to be “where will these visionaries go next?”, but the real question is “do you have the guts to follow them?”. Keep in mind that when they started, there was absolutely nothing there indicating that this could become the trendiest luxury hub. It takes deep pockets or a gambling nature and an adrenaline personality to embark on that sort of risk, but although serious money is necessary to buy Design District properties now, you can still find interesting deals in the immediate surroundings. Counting on the expansion of the Design embracing its outskirts seems like a pretty conservative bid.

If you are interested in more information about Design District properties and its surroundings, as well as other upcoming areas contact us now. Don’t let opportunity pass you by: 786-251-9513  buymiamirealestate@gmail.com