The population in the state of Minnesota is about five 5.8 million people. South Dades Southland Mall has been sold, and the new owners are said to be planning thousands of new residential units, according to the SFBJ. How is this good news? We need you to be cool with us holding onto your email address (if we already have it) and for us to email you about commercial real estate news and events. Old Sears building at Southland Mall is sold | News The mall was nearly destroyed by Hurricane Andrew in 1992. Southland Mall in Miami-Dade faces foreclosure | Miami Herald For more Miami community news, look no further During the few months I have been studio Artist-in-Residence, Town officials preparing for changes to Southland Mall, www.dropbox.com/sh/hfjb3syv30f23j6/AACZhJB8vv0SA4Mcbsb78d5za?dl=0&preview=Cutler+Bay+Town+Center+2019.mp4, Kendall Toyota celebrates with Miami-Dade Teacher of the Year, Despite COVID-19, Dor Chadash holds safe, festive Purim event, Grant Miller Joins Christopher Columbus High School LINK Club at Night Of the Stars, Coral Gables Swearing In Ceremony Photo Gallery, Deering Estate Artist-in-Residence Spotlight: Andres Cabrera-Garcia. Find property contacts with verified and updated contact information on
6796 SW 62nd AvenueSouth Miami, Florida 33143(305)669-7030, Miami Community Newspaper Sponsored Content, Latin Builders Association Community News. The mall had been owned by a subsidiary of Investcorp, a global firm with headquarters in Bahrain and $35B in assets under. On July 10, 2020, it was announced that Sears would be closing as part of a plan to close 28 stores nationwide. Southland Mall is a regional shopping mall in the Whitehaven neighborhood of South Memphis, Tennessee. Southland Mall SoldA Message from the Mayor Metrorail doesnt go offer routes feasible for people going to and from Coral Gables. Phar-Mor was torn down for a Kmart. Fax:(305) 234-4251. In addition to its core competencies, the BH team brings a vitality and spirit to the business that is most often found in driven entrepreneurs who come from challenging business environments abroad. //-->, Memphis Links If residents along that corridor will ride the upcoming BRT system in sufficient numbers, they can make a case for extending Metrorail. Southland Mall sells out of foreclosure to developer google_ad_format = "125x125_as";
The mall features a full-sized Italian carousel. The name Southland, the mall is located in Southern Alameda County. Looking for more in-depth information on this property? The new ownership team envisions a city within a city for living, working, shopping, and playing that will feature more than 4,000 residential units, over 500,000 square feet of curated retail, and exciting dining and entertaining venues at the existing mall, with an additional 150,000 square feet of prime retail space and outparcels for food and beverage operators. Southland Mall | Houma LA - Facebook A county-wide transit assessment emphasized utter necessity for metro rail extension with Southland mall as a metro rail and other transit hub. Cutler Bay town manager Rafael Casals said much can be done to keep the main areas of the mall intact, perhaps making the food court an open air space, and adding some new elements to part of the property to help revitalize the area and businesses. 1,018 were here. It was built in 1966, becoming the first enclosed mall in the Mid-South. Minneapolis has been gaining population for the past 15 years. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing. Southland Mall (Memphis, Tennessee) - Wikipedia Southland Mall at 1215 E. Shelby Drive has sold for $20 million to a New York-based investor. ", http://www.commercialappeal.com/mca/my_life/article/0,2846,MCA_25356_4981717,00.html. In 1995, a new Mervyns store opened, replacing Joseph Magnins, an earlier . It is managed and owned by Namdar Realty Group. Build the MetroRail This could help the housing situation. Id rather Metrorail be extended to Miami Beach east, and Little Havana, Doral, and FIU west, before any extension southbound into a low-density suburban area. It was announced on Mar. It's a community in itself.". The PR company representing the developers sent CBS4 the following statement: "The mall will be dramatically renovated and upgraded. Downtown Memphis Blog In 2006, Old Navy closed. Some people may have been surprised when it was announced on various real estate news websites that Cutler Bay's Southland Mall, 20505 S. Dixie Hwy., had been seized by Wells Fargo Bank,. Good more density near future metrorail stations hopfully. In 2004, Walgreens moved out of Southland. And todays most quickly growing access control solution leverages what almost everyone today keeps with them at all times: their smartphones. The phased redevelopment project will be a charming, self-contained community with abundant green space, bike and golf cart trails, walking trails, a trolley system, and easy access to public transit specifically, the soon-to-open Miami-Dade SMART Plan mass transit route adjacent to the property. A limited liability company named Southland Mall Shopping Center LLC last month bought the property from Memphis Joint Venture, financing the purchase with a $17 million loan through Wachovia Bank.
In February, Ford City Mall's owner, iStar Financial, hired Jones Lang LaSalle to sell the shopping center that it acquired from Sam Zell in late 2012 through a deed-in-lieu of foreclosure. Cutler Bay, FL 33189, Phone:(305) 234-4262 But, Just Do It anyhow right? People have been leaving Minneapolis in droves since two weeks from today, two years ago. Are you saying that Minneapolis real estate is affordable because people have been leaving the city for decades? Fortunately, some of our favorite mall stores still exist including The Gap, Hickory Farms, and Bloomingdale's. But far more have been consolidated, rebranded, or just closed down (we're looking at you with sadness, Esprit de Corps ). A Kmart store closed in 2017 and a Sears closed in early 2020. Yeah. There are 2 retail spaces for lease in the Cutler Bay city, totaling 6,000 SF of available retail space. Southland Mall's occupancy rate is 74 percent not including the Sears and Macy's stores, Rixter said, adding that with the anchors, the occupancy is at 90 percent. Steve & Barry's moved into the former The Good Guys! The site is conveniently bordered by the Florida Turnpike on the east and U.S. 1 on the west, placing it on major commercial crossroads in suburban Miami-Dade County, directly along the new South Corridor Rapid Transit Project, expected to open in . The sale included more than 220,000 square feet of the mall, which is on the south side of East Shelby Drive east of Elvis Presley Boulevard. I did too. In 2004, Southland Mall Properties paid $46 million for the retail site, according to records. A daily roundup of headlines is sent, no spam ever. Click any thumbnail image to view a slideshow, Cutler Bay Town Hall Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. Southland Mall, originally known as Cutler Ridge Mall, is a shopping mall in Cutler Bay (formerly Cutler Ridge), Florida. The 80-acre, $1 billion redevelopment will be one of the largest projects of its kind in the Southeast and will be called Southplace City Center.. With initial capital commitments totaling approximately$2.5 billionacross multiple funds managed by the firm and its affiliates, Electra Americas portfolio encompasses more than $6 billion in commercial real estate property holdings and debt in the multifamily, hospitality and single-family rental home sectors. Did everyone not reas the the article? Spencer's (305) 234-5471. And, according to a 2006 article from The Boston Globe, a man named Robert Cayre - who the Globe said is vice president of Aurora Capital - was part of a team interested in buying the historic Filene's building in Downtown Boston. Supply and demand. Truly the mall desperately needs renovation, & proposed plan would satisfy housing for many people. But he adds those housing units will be different from other developments. Details: Southland Mall, Memphis' first enclosed mall when it opened 50 years ago, has sold for $4.3 million in foreclosure. CUTLER BAY (CBSMiami) Southland Mall in Cutler Bay will soon be transformed into a multimillion-dollar mixed-use development with homes, restaurants and retails shops. Southland Mall - 20507 South Dixie Hwy totals 146,658 square feet. Shopping mall in Cutler Bay, Florida, U.S. Cutler Bay (formerly Cutler Ridge), Florida, "Fitch: Southland Mall in 'imminent default' - South Florida Business Journal", "University of Miami Libraries Collections", "The Miami News - Google News Archive Search", "Cutler Ridge Mall To Be Rebuilt By Debartolo - Free Online Library", "Post-Hurricane Andrew, Retail Returns to S. Miami by Bob Andelman", "LURIA'S PLANS 40,000-SQUARE-FOOT SUPERSTORE AT REBUILT CUTLER RIDGE MALL - Free Online Library", "Former Cutler Ridge Mall making a new entrance - South Florida Business Journal", "Regal plans 16-screen theater in south Miami-Dade", "Investcorp buys Southland - South Florida Business Journal", "Sears and Kmart store closings: 51 Sears, 45 Kmart locations to shutter. Look at Minneapolis. sales, mortgages, financials, title documents and more. The Retail building was completed in 1981 and features a total of 146,658 SF. Hopefully at least some new asphalt and some really spiffy 21 st. century benches. https://streets.mn/2022/05/06/minneapolis-rents-drop/. "It's great that Southland Mall supports the community providing a safe place to walk," said Gwen Nelson, an eight-year Southland Mall walker. That mall subsequentlysold for $11.3Min 2018. "Thanks to all of those who participated. Language links are at the top of the page across from the title. Download this white paper and learn how to keep commercial buildings current with mobile access technology. Wd dont want anh more peopke and traffic. It was purposely built, featuring imagery of New York, and operated at the Rotterdam Square Mall in Rotterdam, NY from 1988 until it was sold in January 2007. 2023 Miami's Community Newspapers a Miller Publishing Company. *May exclude premium content In 2017, The Galleria at Pittsburgh Mills Mall sold for $100at auction in a similar credit bid situation. Investcorp reportedly bought the mall for$145M in 2007. More Details. The partners paid $100.35 million to purchase the 808,776-square-foot mall located on approximately 80 acres of land. The former Richard's/Burdines building was torn down for J. Luria and Sons, a local catalog showroom chain, which opened at the mall in 1994. Noooo leave the Cutler Ridge Mall alone. The 976,889-square-foot Southland Mall was seized by a commercial mortgage-backed securities (CMBS) trust in February 2021 over a $68.7 million foreclosure judgment. Max W. Campbell was a big man. AC. thats the biggest problem. google_cpa_choice = "CAEQjMGkgwIQ0MCkgwIQlMCkgwIQ2L-kgwIQnL-kgwIQ4L6kgwIQpL6kgwIQ6L2kgwIQrL2kgwIQ8LykgwIQtLykgwIQ7Pa39gEQsPa39gEQ9PW39gEaCPGka20_VnAHKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEB";
We need additional data to finish your registration. Carry Out. I can see the Sears going away but the rest of the mall should be updated with better stores. Campbell . ", The future of this site is one that our residents deeply care about, expressed Town of Cutler Bay Mayor Tim Meerbott. Also subscribe to Bisnow's Commercial Real Estate Newsletter, Tiger Woods, Justin Timberlake Back 600-Acre Palm Beach County Project, $1.2B Deal Struck For 15-Acre Development Site On Biscayne Bay, Florida Bills Put Tens Of Thousands Of Historic Properties At Risk Of Demolition, Residential Development Plunges In South Florida As Rising Costs Hold Back Construction, Owner Of Kayak-Branded Miami Beach Hotel Faces Foreclosure, Also subscribe to Bisnow's National Newsletter, Phillip Pessar via Flickr Creative Commons. We look forward to working with Electra America and BH Group to bring this important project to life, while keeping it consistent with the character of our beautiful Cutler Bay.. The mall opened as Southland Mall in 1978 and was Marion County's premiere shopping and entertainment destination until the new businesses began stealing shoppers' attention, Schertzer said. Were delighted to work with the Town of Cutler Bay and its residents to breathe new life into a property that has been underutilized for decades, and in so doing, create thousands of new jobs, as well as help alleviate the housing crunch facing many Miami-Dade residents today, said Ron Gaither, Chief Development Officer of Electra America. Investment Firms Buy Southland Mall, Plan To Modernize It, Build High