Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, and Swire Properties, Inc., a leading developer of mixed-use, commercial, and residential properties in Miami, today announced that Simon has acquired Swire Properties’ interest in the retail and parking at Brickell City Centre.
Brickell City Centre is a mixed-use property that has been recognized for its architectural sophistication, spanning approximately five million square feet. This model for integrated urban design features a 500,000-square-foot open-air shopping center, all under its iconic Climate Ribbon™, an innovative canopy that acts as a sunshade, creates airflow, and collects rainwater.
Completed in 2016 and located in the heart of the Brickell district of downtown Miami, this preeminent shopping center consists of four levels of world-class dining and entertainment seamlessly interconnected across three city blocks. It is anchored by a Saks Fifth Avenue, with a Casa Tua Cucina location. The property has more than 90 retail stores, including Apple, Chanel Fragrance & Beauty Boutique, Coach, Kirk Jewelers, lululemon, Sephora, Zara, Richard Mille, Sandro and Nike, and more than 15 premium dining and entertainment locations, including Motek, Tacology, The Henry, PuttShack, and a luxury VIP Cinema Experience from CMX.
Prior to the acquisition, Simon owned a 25%, non-managing interest in the retail at Brickell City Centre, and, following this transaction, will wholly own and manage the asset.
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