The Real Deal Miami

Shopping center for Miami-Dade canceled

January 20, 2009 09:02AM

Developers Regency Centers and Flagler Development Group will not move
forward on their planned 420,000-square-foot shopping center in West
Miami-Dade because of the credit crunch. The site, between Northwest
132nd and 137th avenues, just north of State Road 836, was scheduled to break ground early
this year and be completed by 2010. Regency had lined up
four major anchor tenants for the shopping center, including Kohl’s, Target, Ross Dress for Less and T.J. Maxx.
Alan Esquenazi, senior vice president of Continental Real Estate, who
was handling the leasing for Regency on the site, said financing costs
had simply gotten too high in a cautious lending climate.