| FOR IMMEDIATE RELEASE | 21 August 2014 |
(21 August, 2014, Hong Kong) - Swire Properties Inc, one of South Florida's leading international developers of urban real estate and Whitman Family Development, the developer of Bal Harbour Shops, today announced an agreement with Hudson's Bay Company on the opening of a department store by leading luxury retailer Saks Fifth Avenue in Brickell City Centre. The department store, due to open in fall 2016, is the lead tenant and will occupy three floors with street level access, taking 107,000 sq ft of the 565,000 sq ft shopping centre.
"Miami is a gateway for the international consumer and we know this buyer, understand their lifestyle and their demand for quality and luxury. We envision Brickell City Centre as the nexus of Miami's cosmopolitan lifestyle and booming economic growth, and want to work with brands that are leaders in the luxury market," said Stephen Owens, President of Swire Properties Inc. "Saks Fifth Avenue is a world-class retailer and a perfect department store for Brickell City Centre."
Brickell City Centre is set to bring urban living to the Brickell neighborhood, a bustling business epicentre which attracts both high net worth residents and an international clientele. Brickell City Centre is a landmark US$1.05 billion mixed‐use development comprising 5.4 million sq ft of office, residential, hotel, retail and entertainment space and underground parking, currently under construction. The project will span 9.1 acres along South Miami Avenue between Sixth and Eighth Street in the Brickell district of downtown Miami.
"Bal Harbour has a long and successful relationship with Saks Fifth Avenue. Saks caters to their clients by creating innovative shopping experiences that fuse contemporary culture and fashion," said Matthew Whitman Lazenby, President and Chief Executive Officer of Whitman Family Development. "Saks' continued growth in Miami is evidence of the demand for luxury retail in this market, and it is clear they are a powerhouse in luxury retail and will offer Brickell an incredible selection of the world's top fashion brands."
Marigay McKee, President of Saks Fifth Avenue said: "In keeping with our strategy to take Saks Fifth Avenue to the single most fashionable and global shopping destination, we want to cater directly to our international clientele from this location. Brickell City Centre will provide access to the North and South American sophisticated and selective consumer in the internationally -flavored Brickell neighborhood."
About Swire Properties Inc
Swire Properties Inc, headquartered in Miami since 1979, is one of South Florida's leading international developers of urban office, hotel and condominium properties. Known for its US$1 billion master‐planned development of the island of Brickell Key in downtown Miami, the company continues to shape the Miami skyline with its latest project, Brickell City Centre, a landmark US$1.05 billion mixed‐use complex comprising a gross floor area of 5.4 million gross sq ft, including an underground car park and 2.9 million sq ft of office, residential, hotel, retail and entertainment space. The Company is a wholly-owned subsidiary of the publicly-listed Swire Properties Limited based in Hong Kong. For more information, visit www.swireproperties.us.
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