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Benderson Development Acquires Grocery-Anchored Shops At Midtown Miami For $83.8 Million

Property Image
SOLD
$83,800,000
Jorge Portela
Kim Flores
Eric Williams
+ 1

Florida

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Retail347,740 SF
Sold 09/30/2024
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Property Image
SOLD

Benderson Development Acquires Grocery-Anchored Shops At Midtown Miami For $83.8 Million

3401 North Miami Avenue

See Similar Deals
Retail347,740 SF
Sold 09/30/2024
Jorge Portela
Kim Flores
Eric Williams
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$241
Total Square Footage:347,740 SF
Transaction Type:Sale

The property asset involved in the transaction is the grocery-anchored Shops at Midtown Miami, located at 3401 North Miami Avenue in Miami. The sale price for the property was $83,800,000, and it encompasses 347,740 square feet on 18 acres of land. The property was reported to be 98.3% leased with tenants that include Target and Ross.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $83,800,000
  • Address: 3401 North Miami Avenue
  • Market: Miami
  • Square Footage: 347,740
  • Price Per Square Foot: $241
  • Buyer: Benderson Development
  • Seller: David R. Lukes - Site Centers
  • Broker Representatives: Danny Finkle, Eric Williams, Jorge Portela & Kim Flores - JLL

Benderson Development acquired the property, representing its first sale in this market. Site Centers, the seller, originally purchased the property for $38.5 million in 2004. The transaction was facilitated by JLL, underscoring the collaboration among key industry players in this deal.

Players

Danny Finkle
JLL
Danny Finkle
57 deals$3.9B volume
BROKER
Eric Williams
Newmark
Eric Williams
52 deals$2.8B volume
BROKER
Kim Flores
JLL
Kim Flores
35 deals$3.2B volume
BROKER
Jorge Portela
JLL
Jorge Portela
23 deals$1.6B volume
BROKER

Details

SOLD
IMAGE: Jorge Portela, Kim Flores, Danny Finkle, David R. Lukes & Eric Williams DATE: 09/30/2024 ADDRESS: 3401 North Miami Avenue MARKET: Miami ASSET TYPE: Retail ~ ACRES: 18 BUYER: Benderson Development (@BendersonDevelopment) SELLER: David R. Lukes - Site Centers BROKERS: Danny Finkle, Eric Williams, Jorge Portela & Kim Flores - JLL (@JLL) SALE PRICE: $83,800,000 SF: 347,740 ~ PPSF: $241 NOTE: Benderson Development acquired the 347,740-square-foot, grocery-anchored Shops at Midtown Miami for $83.8 million, marking its first sale. Represented by JLL, the property is 98.3% leased with tenants like Target and Ross, while the seller, Site Centers, originally bought it in 2004 for $38.5 million. #

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