ICSC: Bal Harbour Shops Named "World's Most Productive" as Ranked by
Sales per Square Foot
The Bal Harbour Experience Is Akin to Some of the Finest Luxury
Streets in New York, Milan and Paris
BAL HARBOUR, FL -- (Marketwire) -- 08/30/12 -- When it comes to
trophy properties, Bal Harbour Shops ranks No. 1, not only in the
U.S., but worldwide, according to the International Council of
Shopping Center's Shopping Centers Today.
The open-air luxury center, with its $2,555-per-square-foot in sales,
is nearly seven times the ICSC-estimated $451-per-square-foot
industry average, notes the September cover story.
Worldwide, Bal Harbour Shops topped sales at such renowned locations
as Westfield London and Westfield Stratford in the United Kingdom;
Westfield Sydney in Australia; the Mall of the Emirates in Dubai; and
Ala Moana Center in Honolulu. (See the full list below.)
Shopping Centers Today based its list on information gleaned from
Green Street Advisors; KPMG; Thomas Consulting/Shopping Centre News,
the REITs and owners of the shopping centers; and some extrapolations
Sales at Bal Harbour have increased every year since its opening in
1965, with just two exceptions: 2001, in the wake of the 9/11
attacks, and in 2009, following the nationwide economic crisis.
"We continue to be the number one shopping destination for luxury
goods not only in the country, but also worldwide," said operating
partner Matthew Whitman Lazenby, a third-generation Whitman family
member involved in the business. "The setting, the stores, the
history and the attachment that shoppers feel to the center is what
makes Bal Harbour Shops the world's premier luxury retail center."
The article notes that the most successful shopping destinations have
common characteristics: Typically, they are located in areas popular
with tourists, have high-end retailers, affluent regional
demographics and tend to get refreshed and renovated regularly.
Bal Harbour Shops, with its location at the northern tip of Miami
Beach, is a huge draw for tourists who are beckoned by the allure of
South Beach and who come from both inside and outside of the U.S. --
primarily from Latin America and Russia.
The Village of Bal Harbour is among the most affluent in the region.
And, as noted in the article, Bal Harbour Shops' neighbor, The Church
by the Sea, recently voted in favor of relocating the church from its
current location, adjacent to Bal Harbour Shops, allowing the fashion
center to add another 200,000 square feet and approximately 50 new
ABOUT BAL HARBOUR SHOPS
Bal Harbour Shops is home to more than 100
luxury retailers including Brunello Cucinelli, Chanel, Dolce &
Gabbana, Gucci, Lanvin, Neiman Marcus, Prada, Roger Vivier, Saks
Fifth Avenue and Valentino. The venue at 9700 Collins Avenue in Bal
Harbour is across from the ocean and the new St. Regis Bal Harbour
Top 15 shopping centers by sales per square foot
Rank Center Location Sales psf
1 Bal Harbour Shops Bal Harbour $2,555
2 Forum Shops at Caesars Las Vegas $1,750
3 Westfield Stratford London $1,600+
4 Westfield London London $1,600+
5 Shops at Columbus Circle N.Y. City $1,600
6 Westfield Sydney Sydney, Australia $1,500
7 Mall of the Emirates Dubai, U.A.E. $1,423
8 The Grove Los Angeles $1,400
9 Pacific Centre Vancouver, B.C. $1,255
10 The Mall at Millenia Orlando, Fla. $1,250
11 Ala Moana Center Honolulu $1,200
12 Yorkdale Toronto $1,194
13 Chadstone Melbourne, Australia $1,157
14 The Mall at Short Hills Short Hills, N.J. $1,110
15 Americana at Brand Glendale, Calif. $1,100
Brent Cross London $1,100
Aventura Mall Aventura, Fla. $1,100
Susan R. Miller
Boardroom Communications Inc.
954- 294-4973 (cell)
Director of Marketing
Bal Harbour Shops
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