The Real Deal Miami

Trans World Entertainment sells Miami-area property for $30 million

November 28, 2012 12:00PM

Trans World Entertainment Corporation has announced the sale of a Miami-area property it owned for $30 million, according to a release. The sale was announced alongside a cash dividend by the company of $0.47 per share in December. The total dividend payout is estimated to be around $15 million. “We are pleased to reward our shareholders with a special dividend,” said Robert Higgins, chairman and CEO at Trans World. The company operates retail stores in the US and the Caribbean, primarily under the f.y.e., for your entertainment [sic] and Suncoast brands. — Alexander Britell