Bal Harbour Shops

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Bal Harbour Shops
Bal Harbour Shops.jpg
LocationBal Harbour, Florida, US
Coordinates25°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
Address9700 Collins Avenue
Opening date1965; 57 years ago (1965)
DeveloperWhitman Family
ManagementWhitman Family
OwnerWhitman Family
ArchitectHerbert H. Johnson & Associates
No. of stores and servicesApproximately 100
No. of anchor tenants2
Total retail floor area450,000 sq ft (42,000 m2)
No. of floors3
Websitewww.balharbourshops.com

Bal Harbour Shops is an open-air shopping mall in Bal Harbour, a suburb of Miami, Florida. With sales of $3,000 per square foot, it is one of the highest grossing shopping centers in the world.[1]

The anchor stores are Neiman Marcus and Saks Fifth Avenue. Notable other retailers include Salvatore Ferragamo, Alexander McQueen, Audemars Piguet, Balenciaga, Balmain, Bottega Veneta, Brioni, Bvlgari, Chanel, Chloe, Chopard, Dolce & Gabbana, Ermenegildo Zegna, Escada, Fendi, Giorgio Armani, Goyard, Gucci, Harry Winston, Missoni, Miu Miu, Prada, Saint Laurent, Stella McCartney, Tod's, Van Cleef & Arpels, and Versace.[2]

History[edit]

From 1954 to 1962, Stanley Whitman travelled around the U.S. studying shopping centers.[1]

In 1957, Whitman acquired the site for $2 per square foot, then a record price for retail property.[1] It was the site of a former United States Army barracks and World War II prisoner of war camp.[1] He built a non-traditional open-air shopping mall due to the climate.[1]

At first, Whitman hired architect Victor Gruen, but then fired him and hired Herb Johnson, based in Miami.[1]

In 1965, the shopping center opened.[1] It included stores of FAO Schwarz and Abercrombie & Fitch.

In 1971, Neiman Marcus opened a store at the center.[1]

In 1976, Saks Fifth Avenue opened a store at the center.[1]

In 1977, Gucci opened a store at the center. By 1987, it realized sales of $1,000 per square foot.[1]

In 1983, a second level was added.[1]

Overall sales at the shopping center rose from $1,000 per square foot in 1997, 5 times the national average, to $1,350 per square foot in 2002, $2,000 per square foot in 2008, $2,730 per square foot in 2012, and $3,000 per square foot in 2015.[1]

In 2012, the Whitman family struck a land swap deal with Church by the Sea.[3] Bal Harbour Shops agreed to build a 60,000-square-foot (5,600 m2) church.[4]

In January 2013, Bal Harbour Shops announced an equity partnership with Swire Properties to jointly develop the 500,000-square-foot (46,000 m2) retail component of Brickell CityCentre in downtown Miami.[5]

In 2017, a 340,000 square feet (32,000 m2) expansion was approved.[6]

References[edit]

  1. ^ a b c d e f g h i j k l MOIN, DAVID (November 14, 2015). "Bal Harbour Shops at 50: Building by the Sea" (PDF). Women's Wear Daily.
  2. ^ "Store Directory". Bal Harbour Shops.
  3. ^ Lilly, Christiana (September 18, 2012). "Bal Harbour Shops Strikes Deal With Church By The Sea For Retail Space Expansion". HuffPost.
  4. ^ "Bal Harbour Shops expansion approved after decade in the works". May 18, 2017.
  5. ^ "2013 Look Back: Real Estate". American City Business Journals. December 27, 2013.
  6. ^ "Bal Harbour Shops expansion approved after decade in the works". Miami Herald. May 17, 2017.