MIAMI—Most luxury storefronts are in five major cities—and Miami is one of them. Of course, Miami offers much more than luxury storefronts. Miami is home to a plethora of retail outlets, from discount stores to department stores and beyond.

According to Marcus & Millichap's latest market report, developers will complete 1.4 million square feet of retail space this year, the highest total since 2008 as construction activity accelerates. In 2014, builders finished 700,000 square feet. Asking rents will rise 2 percent this year, reaching $29.90 per square foot as robust demand for retail space pushes up rents across the metro.

GlobeSt.com caught up with Chris Weilminster, executive vice president of Real Estate Leasing for Federal, to get his thoughts on how Miami retail stacks up to other cities in part three of this exclusive interview. You can still read parts one and two: Behind the Deal: $88M CocoWalk Trade Dissected and CocoWalk Remaking Itself in New Retail Era.