MIAMI—Can we compare Miami retail to Manhattan retail? Are there parallels in the evolutions of retail in these cities? Yes and no.

In one sense, Miami's retail scene has clearly grown and expanded to attract luxury and global brands like what New York offers. Miami has developed new retail hubs over the years—and is now doing so at a more rapid clip—like New York did. But Miami is a different animal.

I moderated CREW-Miami's luxury retail panel discussion on Wednesday afternoon, questioning three leading voices in Miami's real estate scene. On the panel were Greg Masin, senior director of Cushman & Wakefield's Miami brokerage; Matthew Whitman Lazenby, president and CEO of the Whitman Family Development; and Beth Azor, owner of Azor Advisory Services. I asked them about the Miami-Manhattan connection.