Poll: Tell us where you prefer to shop. Wave of new stores opening in South Florida
Miami-Dade shopaholics and foodies can rejoice with the flood of retail and restaurant openings coming this year. Given the options, the Miami Herald wants to know where readers prefer to go for their retail therapy.
Some of the area’s many retail hotspots have announced new stores and eateries coming in 2023, including Brickell City Centre, Sawgrass Mills, Miracle Mile and Shops at Merrick Park.
Among the openings are various newcomers making their Florida debut, including Italian men’s clothing store Luca Faloni and gourmet burger chain Black Tap Craft Burgers & Beer.
With so many options to shop and dine, where would you go if you had to pick from the following? Aventura Mall, Brickell City Centre, Dadeland Mall, Dolphin Mall, Miracle Mile, Sawgrass Mills or Shops at Merrick Park.
In 2022, South Florida witnessed a total of 20,572 new business openings — from the independently-owned stores to large corporations, according to a survey by Yelp. Real estate experts predict the retail migration will continue through this year.
READ MORE: Want to stay informed with the Miami Herald’s real estate coverage? Sign up here for RE|source, our free weekly real estate newsletter.
The opening activity is certain to boost the vibrant retail market. Take the city of Miami. It has a 3.1% vacancy rate among all of its shopping malls, less than the nearly 6% national average, according to the fourth-quarter 2022 market beat report by Cushman & Wakefield. That’s despite the fact that retail rents here are higher than the national average. Landlords ask for an average $39 a square foot, higher than the U.S. average of $23 a square foot.
This story was originally published January 31, 2023 at 2:17 PM.
