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Owners of Bal Harbour Shops Partners with Brickell CitiCentre

January 31st, 2013 Written By Carol Pawley

The owners of Bal Harbour Shops are partnering with Swire Properties on Brickell CityCentre. The Whitmans will make a “significant” equity investment in the retail portion of Brickell CityCentre and serve as co-developer with Swire Properties, which will remain the majority owner of the $1.05 billion urban shopping and mixed-use development. Both developers will equally share responsibility for all phases of the 520,000-square-feet of retail, from leasing to marketing. Financial terms of the agreement were not disclosed. Swire will still handle the office, hotel and condo components of the project. Brickell CityCentre expects to devote about 40 percent of its retail space to luxury retailers. The rest would be a mix of the type of upper moderate or premium retailers found at up-market malls like Aventura and Dadeland. Plans also include a department store and concentration of restaurants and entertainment. Brickell CityCentre is planned to open sometime in 2015.

Click here to read more about this partnership.

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