With the expansion of shopping malls like Aventura Mall, the retail industry is strong in South Florida. These shopping centers are popping up everywhere. However, these malls are anything but traditional.
In Miami, the layout of the mall is changing entirely. Malls are being built as open-air shopping centers. Guests can browse fine items for sale and dine at gourmet restaurants. The days of food courts and ordinary stores is fading out quickly in South Florida.
Aventura, a leader in the mall industry, is expanding its space and presence. In malls like Aventura, shoppers will find high-end designers like Armani Exchange, Chanel, Coach, and Michael Kors. Aventura also has a variety of full-service restaurants to wine and dine at in between stores. This approach to mall culture is changing the shopping experience by adding a level of sophistication to it.
Jackie Soffer, Chief Executive Officer and Co-Chairman of Turnberry Associates real estate development group, is ushering in the expansion of Aventura mall in South Florida. The expansion was designed by Carlos Zapata and includes a special VIP lounge, as well as, a site-specific installation from some leading contemporary artists. Jackie Soffer is helping usher in this newly evolved shopping experience that will become known as “experiential retail” to future generations.
In addition, other malls like Dadeland are set to expand too. Additional shopping areas in North Miami and downtown will be receiving renovations that will create a more “upscale” shopping experience for guests. Residents of Northwest Miami-Dade may soon see the largest mall in the country built in their community. This project is pending approval but would include a 200-acre complex if it does receive approval.
Real estate brokers across the country have confirmed that there is a strong demand for retail establishments in South Florida. Local shoppers and tourists are ready to make big purchases from designer chain stores and local artisans.
The market exists in South Florida for these high-end malls is flourishing. In fact, some real estate investors say that there isn’t enough space to build all the shopping centers in demand. Miami’s shopping culture is on the rise. The city is quickly becoming a competitor to New York and Los Angelos.
South Florida’s retail industry is booming, which may lead to increased employment for locals. As high-end malls continue to expand, South Florida’s economy continues to rise and the evolution of experiential retail continues to adapt.