Businesses are opting to open more locations versus a lone store with a new concept.

The mixed-use Miami Worldcenter has big plans for multifamily and residential units too.

The 687,000 square feet asset was first opened in 1985.

The facility spans 1.22 million square foot.

Plus, the Miami-based firm is planning renovations.

It will support 174 affordable apartments.

The company sees "strong returns" coming in the future on the asset.

The luxury property features more than 46,000 square feet of commercial space.