Wynn Shops Lead U.S. Malls at $423 Per Square Foot
Commercial tenants and property owners see the highest gross rents in a 2026 ranking of U.S. shopping centers and malls.
Updated on Nov. 6, 2026 in Commercial
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The Greenberg Group's 2026 ranking names The Shops at Wynn and Encore in Las Vegas as the U.S. shopping center with the highest gross rent per square foot, at $423. The list covers shopping centers and malls only.
Why it matters
Gross rent per square foot at the top of the market shows how much premium retail space costs in a handful of luxury destinations, a benchmark that tends to shape pricing expectations for shoppers, landlords and nearby property owners. Only two centers on the list, Wynn and Bal Harbour Shops in Miami, exceed $400 per square foot.
The Shops at Wynn and Encore averages $423 per square foot in gross rent, while Bal Harbour Shops in Miami averages $410 and Americana Manhasset in Manhasset, N.Y., averages $325. The ranking includes shopping centers and malls only.
The players
The Greenberg Group
A retail real estate advisory firm that publishes lease benchmarking and rent rankings based on negotiations for brands nationwide.
The Shops at Wynn and Encore
A luxury shopping center in Las Vegas that ranks first on the list with average gross rent of $423 per square foot.
Bal Harbour Shops
A luxury shopping center in Miami that ranks second with average gross rent of $410 per square foot.
The details
The Greenberg Group built the ranking from firsthand experience negotiating leases for brands nationwide, combined with proprietary lease benchmarking and co-tenant sales data. Gross rent is the figure used to order the centers, so the list reflects what tenants pay per square foot rather than foot traffic or sales volume. Because the ranking covers only shopping centers and malls, it does not capture rents for standalone street-front retail.
Timeline
The Greenberg Group published the 2026 ranking in 2026.
The Home Front
Premium retail rents in a few luxury destinations sit far above the rest of the list, with the top two centers exceeding $400 per square foot. The ranking gives a national benchmark for how high-end commercial space is priced across U.S. markets.
If you own a retail storefront or lease commercial space, compare your current rent per square foot against this benchmark before your next renewal. Keep your lease documents and any co-tenancy clauses on file so you can check renewal terms when they come up.
The takeaway
The gap between the top two centers and the rest of the list shows how sharply premium retail rents vary by location. Before signing or renewing a commercial lease, ask your broker for current per-square-foot comparables in your specific market.
Further reading
For more on how commercial property markets are priced, browse our Commercial coverage.
Source note: This article includes information reported by Chain Store Age.
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