Bal Harbour Shops
|Location||Bal Harbour, Florida, US|
|Address||9700 Collins Avenue|
Stanley Whitman, FounderRandall Whitman, Managing partner
|Management||Matthew Whitman Lazenby, Operating Partner|
|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|
Bal Harbour Shops is an upscale, open-air shopping mall in Bal Harbour, a wealthy suburb of Miami Beach, Florida, known internationally for its luxury retail. Bal Harbour Shops is owned by the Whitman family and is one of the few remaining family-owned malls in the nation. There is a waiting list at the shopping center which has operated at 100% occupancy for several decades. Demand for additional space by many existing retailers continues to grow with numerous luxury brands, including Dolce & Gabbana, Chanel, Tory Burch, Prada, Audemars Piguet, IWC, Loro Piana and Brioni expanding their presence in 2012 and 2013. In March 2013, Chanel reopened its new concept boutique with an all-encompassing interior and exterior renovation.
In December 2012, Yves Saint Laurent opened its first new concept boutique Saint Laurent Paris in the United States. New stores opening in 2013 include: Swiss luxury jeweler De Grisogono, Etro, Scoop and Lalique.
Stanley Whitman visualized the conceptual plan for the open-air shopping center on the site of a former United States Army barracks and World War II prisoner of war camp. He abandoned the conventional enclosed air-conditioned mall concept, firing architect Victor Gruen, and hiring the South Florida architectural firm Herbert H. Johnson & Associates. Whitman purchased the land in 1957 for $2 per square foot, which was a record price to pay for retail property, more than 20 times what was being paid at the time.
Bal Harbour Shops officially opened in 1965 with 30 upscale, mostly New York-based retailers including, FAO Schwarz and Abercrombie & Fitch. In 1971, Neiman Marcus opened its first specialty department store outside of Texas at Bal Harbour Shops. In 1976, Saks joined Neiman Marcus and it was the first time any center had both major retailers in one location. Bonwit Teller would join the powerhouse duo in the late 70's, rounding out the anchors for this incredible center.
When Gucci opened in 1977, Bal Harbour Shops was its first retail location in a shopping center and its 5th in the U.S. After that, an influx of major brands opened their first mall stores including Cartier, Bulgari, Louis Vuitton, Prada and Harry Winston.
By 1990 with sales faltering, Bonwit Teller would go bankrupt in the mid 90's closing both stores in South Florida, including Bal Harbour.
While classified as a mall, the retail center discourages comparisons to traditional malls. There are no enclosed walking paths or kiosks. One way Bal Harbour Shops maintains its exclusivity is by including a lease clause that prevents tenants (excluding anchors) from opening another location within a twenty-mile radius. Bal Harbour was designed to grow vertically and in 1983 opened the second level.
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. 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 2012, sales per square foot hit a record high of $2,729.60, more than six times the national average.
Bal Harbour Shops is planning to add 200,000 square feet. To accomplish that, in 2012, the Whitman family struck a land swap deal with Church by the Sea. In exchange, Bal Harbour Shops will build a 50,000-square-foot, eco-friendly church on land that it owns. In addition to adding approximately 30 new stores, Bal Harbour Shops is seeking a third anchor specialty department store.
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. Bal Harbour will contribute equity, brand recognition and its luxury retail expertise to the project.
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- Walker, Elaine. "As the luxury market evolves, so does Bal Harbour Shops". Retrieved 25 March 2013.
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- "Bal Harbour Shops and Swire Properties develop jointly Brickell CityCentre". 30 January 2012. Retrieved 25 March 2013.