Brickell City Centre Mall Surpasses 97% Occupancy, Experiences Upward Trend in Retail SalesNovember 18, 2023
Brickell City Centre’s shopping mall continues to experience a surge in both retail occupancy and sales volume.
According to publicly traded Swire Properties, the shopping mall achieved an impressive 97% occupancy rate as of September 30, marking a notable increase from 89% recorded on December 31, 2022. It’s worth noting that the occupancy figures encompass space allocated to potential tenants who have already signed letters of intent.
The occupancy rate is on the rise, and retail sales volume at Brickell City Centre has also seen a substantial uptick this year. Comparing the figures through September 30 with the same period in 2022, there has been a remarkable 16.5% increase.
Swire Properties holds the majority ownership stake in the mall at 62.93%, with minority interests held by Simon Property Group (25%) and Bal Harbour Shops (12.07%).
Looking ahead, Swire is gearing up to commence the next phase of the project—a near-supertall office tower named One Brickell City Centre. This new phase will primarily consist of office space, with only an additional 17,014 square feet allocated for retail and food and beverage establishments. The forthcoming development reflects Swire’s commitment to expanding and enhancing the Brickell City Centre complex.