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Front Page » Breaking News » Surging retail sales credited for rising Miracle Mile rents

Surging retail sales credited for rising Miracle Mile rents

  • www.miamitodayepaper.com
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Written by on December 24, 2019

In the wake of the recent streetscape renovation, rents are going up on Miracle Mile in Coral Gables, and that’s a good sign, said Stephen Bittel, founder and chairman of Terranova Corp.

“I believe rising rental rates take the temperature of a retail district, because rents are a function of sales,” he said. “Sales justify the higher rents.”

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