Brickell CityCentre development, Downtown Miami, FL
MIAMI, FL -- The improving housing market, rising tourism
and job growth are benefitting the Miami-Dade retail sector. Heavy foreign
investment in the Miami condo market has shrunk the available supply of
for-sale listings, and strong buyer interest has prompted developers into
action.
Many of the new housing projects are high-density, mixed-use
properties that contain a retail component. The largest of these developments
under way is the four-block, mixed-use Brickell CityCentre in downtown
Miami. The project will contain a 520,000-square foot upscale shopping center
in addition to 800 condos, a hotel, and an office building.
The project is located near the Metromover’s 8th Street station, providing convenient
access from other areas.
In addition, there are 25 other planned residential
projects downtown and eight currently under way, which will help support new
retailers in Brickell CityCentre when the project opens in 2015.
Foreign condo owners and prospective buyers are helping
boost tourism levels. Hotel occupancy in Miami was up 3.9 percent in the
first quarter and the rise in tourism is supporting a jump in retail sales and
retail jobs. Stores hired more than 3,100 workers in the first quarter of the
year.
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For a complete copy of the company’s report, please
contact:
Gina Relva
Public Relations
Manager
Marcus &
Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
(925) 953-1700 ext.
1716
(510) 999-1284 mobile
(925) 953-1710 fax
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