Bal Harbour Shops

Bal Harbour Shops
Location Bal Harbour, Florida, US
Coordinates 25°53′18″N 80°07′31″W / 25.88825°N 80.12519°W / 25.88825; -80.12519Coordinates: 25°53′18″N 80°07′31″W / 25.88825°N 80.12519°W / 25.88825; -80.12519
Address 9700 Collins Avenue
Opening date 1965
Developer

Stanley Whitman, Founder

Randall Whitman, Managing partner
Management Matthew Whitman Lazenby, Operating Partner
Owner Whitman Family
Architect Herbert H. Johnson & Associates
No. of stores and services Approximately 100
No. of anchor tenants 2
Total retail floor area 450,000 square feet (42,000 m2)
No. of floors 2
Website balharbourshops.com

Bal Harbour Shops is an open-air shopping mall in Bal Harbour, a suburb of Miami, Florida, known internationally for its retail.[1] Bal Harbour Shops is owned by the Whitman family and is one of the few remaining family-owned malls in the nation.[2] There is a waiting list at the shopping center which has operated at 100% occupancy for several decades.[3] Demand for additional space by many existing retailers continues to grow.[4][5] .

History

Bal Harbour Shops has ranked No. 1 in the U.S. for decades in productivity based on sales per square foot. It recently ranked No. 1 in the world, according to the September 2012 cover story in the International Council of Shopping Center’s Shopping Centers Today magazine.[6] With just two exceptions (following the 9/11 terrorist attacks in 2001 and the recession of 2008), sales at Bal Harbour Shops have increased every single year since its opening in 1965. For the year ended 2013, sales per square foot hit a record high of $3,010[7].

Future

Bal Harbour Shops is planning to add 340,000 square feet [8] . To accomplish that, in 2012, the Whitman family struck a land swap deal with Church by the Sea.[9] In exchange, Bal Harbour Shops will build a 60,000-square-foot church on land purchased for them, by Bal Harbour Shops [10].

In January 2013, Bal Harbour Shops announced an equity partnership with Swire Properties to jointly develop the 500,000-square-foot retail component of Brickell CityCentre in downtown Miami.[11] Bal Harbour will contribute equity, brand recognition and its luxury retail expertise to the project.

A 340,000 square-foot expansion of the Bal Harbour Shops, in the works for more than a decade, won final approval from the Bal Harbour Village Council in May 2017 [12]. The expansion will focus on major retail and dining upgrades to the lushly-landscaped, open-air shopping center, which sits just across from the Atlantic Ocean. The upgraded center is anticipated to feature the first Barneys New York flagship store in the southeastern U.S., major upgrades to longtime anchor tenant Neiman Marcus and new dining options, including Freds at Barneys [13].

The Shops enhancement plan will build on its fifty-year legacy of community investment by providing funding for a new, environmentally-sustainable, hurricane-protected Village Hall and parking garage, improvements to Village infrastructure, donating the land to the nearby Fairfield and SunTrust properties, totaling nearly 2 acres, millions of dollars for a new waterfront community park, funding to create a new Art in Public Places program for the Village, and millions of dollars in new annual tax revenue that will help sustain the Village for years to come [14].

References

  1. ↑ "Bal Harbour Shops - Shopping - Miami - WhereTraveler, WhereTraveller". Retrieved 23 June 2009.
  2. ↑ Walker, Elaine. "As the luxury market evolves, so does Bal Harbour Shops". Retrieved 25 March 2013.
  3. ↑ Burke, Leslie (19 August 2005). "Hotel, theater, spa considered in Bal Harbour". South Florida Business Journal. Retrieved 23 June 2009.
  4. ↑ Bal Harbour Village. "BHS new stores opening 2016" (PDF). Retrieved 27 July 2017.
  5. ↑ Luxury Travel Magazine. "Salvatore Ferragamo Boutique Reopens at Bal Harbour Shops". Retrieved 27 July 2017.
  6. ↑ "Shopping Centers Today Retail Trophies". 4 September 2012. Retrieved 25 March 2013.
  7. ↑ "Shopping Centers Today Retail Trophies". 4 September 2012. Retrieved 27 July 2017.
  8. ↑ "Bal Harbour Shops expansion approved after decade in the works". 17 May 2017. Retrieved 26 July 2017.
  9. ↑ Lilly, Christiana (18 September 2012). "Bal Harbour Shops Strikes Deal With Church By The Sea For Retail Space Expansion". Huffington Post. Retrieved 25 March 2013.
  10. ↑ "Bal Harbour Shops expansion approved after decade in the works". 18 May 2017. Retrieved 27 July 2017.
  11. ↑ "Bal Harbour Shops and Swire Properties develop jointly Brickell CityCentre". 30 January 2012. Retrieved 25 March 2013.
  12. ↑ "Bal Harbour Shops expansion approved after decade in the works". 17 May 2017. Retrieved 12 June 2017.
  13. ↑ "Bal Harbour Shops' $400M expansion secures final approval". 17 May 2017. Retrieved 27 July 2017.
  14. ↑ "Bal Harbour Shops' $400M expansion secures final approval". 17 May 2017. Retrieved 27 July 2017.


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