The Real Deal Miami

Sunrise Town Center part of $473.1M mall trade

September 27, 2011 01:06PM

North Miami Beach-based Equity One agreed to sell 36 shopping centers in the Southeast for $473.1 million to a Blackstone Group investment fund, Bloomberg News reported. The shopping centers total 3.9 million square feet and are mostly anchored by supermarkets, including 20 that boast a Publix Super Markets outlet.

The portfolio was 91 percent occupied, according to Equity One, generating about $35.4 million in the last fiscal year. South Florida Business Journal said the lone South Florida property in the transaction was the 128,000-square-foot Sunrise Town Center. The mall, at 3300 N University Drive in Sunrise, is anchored by an LA Fitness, a Walmart and an Office Depot. [Bloomberg] and [SFBJ]