Friday, September 14, 2012

Miami Sawgrass mills Miami is not most productive


Miami Sawgrass mills Miami is not most productive


Sawgrass mills Miami received a rude awakening when it found itself not included in a list of the most productive retail property in America. Bal Harbour Shops in Bal Harbour was ranked the number one most productive retail property by the International Council of Shopping Center's trade publication, Shopping Centers Today. The Forum Shops at Caesars in Las Vegas, ranked No. 2 behind the Bal Harbour Shops.


The publication's September issue ranked the centers based on information from several worldwide advising and consultant firms and shopping center owners. Most centers included on the list host high-end chains.


This comes as somewhat of an embarrassment to Sawgrass Shuttle mills Miami which, despite being the sixth largest shopping mall in America, failed to even make the list.


Bal Harbour, an open-air, luxury chain mall also in the state of Florida, has the top sales per square foot at $2,555, blowing away the ICSC-estimated average at $451-per-square-foot, according to a press release. Bal Harbour Shops ranked higher than nearby Aventura Mall, which was ranked number 16 with $1,100 in sales per-square-foot, with Orlando's upscale The Mall at Millenia ranking tenth . The rankings were based on information from a number of worldwide advisory and consultancy firms, as well as shopping center owners.


Sawgrass Shuttle mills Miami center has more than 350 stores and is located in Sunrise, just outside Miami, north of the I-75 and I-595 intersection, and only 32 miles away from Bal Harbour. Unlike Bal Harbour, the outlet also offers cinema and entertainment complexes that attract a slightly different crowd to the big-spenders to the south. Sawgrass says it aims to give customers an experience as opposed to just a place to buy fancy things.


Sales at Bal Harbour Shops have increased every year since the center's opening in 1965, except for in 2001 and 2009. The shopping center plans to extend with another 200,000 square feet and 50 new tenants after a nearby church has agreed to relocate to free room for the expansion. Unlike sawgrass shuttle mills Miami, Bal Harbour caters to a predominantly high-end market. With more than 100 retailers including the likes of Chanel, Dolce & Gabbana, Gucci, Prada and Valentino, there’s not a discount sign in sight as shoppers are made to pay full price for their designer goods. High earners from Miami’s downtown area are attracted to the Harbour, wanting to fulfil all their designers goods needs.


If Sawgrass mills Miami wants to compete with its rival to the south then it needs to think about attracting some of Miami’s more up-market crowd. However, this could possibly draw bargain-hunting tourists away from a place that has become their favourite shopping destination in recent years. The owners of the outlet are said to be working on ways to attract consumers from across the income spectrum in a move that aims to put Sawgrass firmly back on the map in terms of maximising profits relative to retail space.


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