H&M Inks 25K-SF Lease in Brickell
By Julia Echikson February 14, 2024 5:31 pm
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H&M is making its way to Miami’s Brickell district.
The fast-fashion European giant, also known as Hennes & Mauritz, signed a 25,000-square-foot lease at the mixed-use Brickell City Centre development, according to landlord Swire Properties.
The store, scheduled to open in late 2024, will be located on the second and thrid floors on the northern section of the open-air mall, near the Tommy Bahamas, Pinko and Trousseau boutiques. The lease is 10 years long, according to a representative for Swire. A spokesperson for H&M did not immediately respond to a request for comment.
The new lease brings the 500,000-square-foot retail component of the Brickell City Centre to fully leased, the first time since its opening in 2016. Whitman Development Family, which owns Bal Harbour Shops, and Simon Properties are co-owners of the shopping center, which Swire developed.
Since 2020, when the pandemic hit and throngs of Northerners relocated to Miami, 24 brands have opened stores at the Brickell mall, including Nike and Levi’s. Other tenants include Zara, Sephora, Saks Fifth Avenue, and indoor golf venue Puttshack.
H&M, which is headquartered in Stockholm, Sweden, currently has 11 stores in South Florida.
Despite sales for the first time surpassing pre-pandemic levels in 2023, the Swedish behemoth has struggled to keep up with Zara and ultra-low-cost competitor Shein, the Wall Street Journal reported. Last month, its CEO, Helena Helmersson, stepped down.
Julia Echikson can be reached at jechikson@commercialobserver.com.
Update: the story was amended to include details about the opening date and length of the lease.
