Forbes Company, Taubman Centers to open luxury Miami mall in 2016

Florida Weekly

The fashion footprint is about to get a whole lot bigger in downtown Miami — about 750,000 square feet, to be exact.

The Forbes Company and Taubman Centers announced a partnership to build a new, world-class shopping facility at Miami Worldcenter that will tout fashion retail giants Bloomingdale’s and Macy’s as anchor tenants.

The Forbes Company, a nationally recognized owner, developer and manager of regional shopping centers, including The Gardens Mall in Palm Beach Gardens and Waterside Shops in Naples will oversee the development and management of the 750,000-square-foot retail space as part of Miami Worldcenter’s phase one.

“Florida continues to be an outstanding market for world-class retail,” said Sidney Forbes, founding partner of The Forbes Company, in a prepared statement. “We are delighted to add The Mall at Miami Worldcenter to our collection, and look forward to breaking ground in 2014.”

Investing in Florida is a primary focus of The Forbes Company. Three iconic shopping destinations already exist in Florida: The Gardens Mall, The Mall at Millenia in Orlando and Waterside Shops in Naples. The Somerset Collection in Troy, Mich., rounds out the portfolio.

The new mall will open in 2016, the statement said.

Located across from the American Airlines Arena and the Adrienne Arsht Center for the Performing Arts, Miami Worldcenter will span more than 25 acres at the northern end of the Central Business District, adjacent to I-95 and I-395. It will provide an eclectic mix of retail, residential, office, hospitality and entertainment components.

Based in Southfield, Mich., Forbes is a nationally recognized owner, developer and manager of iconic, regional shopping centers. For more information about The Forbes Company, visit theforbescompany.com.

Taubman Centers is an S&P Mid- Cap 400 Real Estate Investment Trust engaged in the ownership, management, and/or leasing of 28 regional, super-regional, and outlet shopping centers in the U.S. and Asia. Taubman is currently developing The Mall at University Town Center in Sarasota; The Mall in San Juan in San Juan, Puerto Rico;International Market Place in Waikiki, Honolulu, Hawaii; and shopping malls in Xi’an and Zhengzhou, China, and Hanam, South Korea. Taubman Centers is headquartered inBloomfield Hills, Mich. ¦