Bal Harbour Shops
With over $2,500 sales per square foot at the Bal Harbour Shopping Mall in Miami, management at the location must have made some stellar decisions worth taking note of. Certain aspects of the mall ensured the success, not least of which was including a wonderful assortment of luxurious brands like Chanel, Prada, Gucci, and more.
Bal Harbour Shops, an open-air luxury shopping center in an upscale part of Miami, is the most lucrative shopping mall in the world based on sales-per-square-foot.
The mall currently sees sales of $2,555 per square foot, and is likely to approach $3,000 per square foot by year-end, an annual survey by the International Council of Shopping Centres showed.
That stat puts Bal Harbour's sales at nearly seven times the ICSC-estimated $451-per-square-foot industry average.
Sales per square foot in Bal Harbour have increased every year since its opening in 1965, with the exception of 2001, because of the 9/11 terror attacks, and 2009, because of the economic downturn.