Dezer company gets Intracoastal Mall for $64M

Canyon-Johnson Urban Fund sells North Miami Beach property

TRD MIAMI /
Dec.December 20, 2013 11:15 AM

A company tied to Dezer Development has taken ownership of the Intracoastal Mall in North Miami Beach in a $63.5 million transaction, The Real Deal has learned.

Dezer Intracoastal Mall acquired the 3501 Sunny Isles Boulevard mall on Dec. 13, according to Miami-Dade County records. The county recorded the transaction Wednesday. State corporate records identify Michael Dezer as manager of Dezer Intracoastal.

CJUF III Intracoastal filed the special warranty deed transferring title to the Dezer company. The company is controlled by Magic Johnson’s Los Angeles-based Canyon-Johnson Urban Fund. It acquired the mall in March 2012 from a company tied to Boca Raton-based Woolbright Development, which turned over the property to resolve a foreclosure action.

Built in 1986 on more than 26 acres, the Intracoastal Mall has nearly 271,000 square feet of retail space. The mall is anchored by Frank Theatres, Old Navy Outlet, TJ Maxx and Winn-Dixie, according to its website.

Dezer’s future plans for the property are unclear. It could continue operating the mall as an income-producing asset or redevelop the site. — Eric Kalis


Related Articles

arrow_forward_ios
Bryan C. Hanson of Zimmer Biomet and the Residences by Armani/Casa

Medical device CEO snags condo at Residences by Armani/Casa

Rendering of the project, Davide Bizzi and Jeff Bercow

North Miami Beach approves Bizzi & Partners’ mixed-use tower

Alex Zylberglait of Marcus & Millichap and 2020 Northeast 163rd street

Argentine investor nabs North Miami Beach Opportunity Zone property

Gil Dezer and Days Hotel by Wyndham Thunderbird Beach Resort

Dezer wins height approval for Sunny Isles’ tallest condo tower

CAPTION: Rendering of Residences by Armani/Casa, Jorge Pérez and Gil Dezer

Gil Dezer, Related complete Residences by Armani/Casa

Daily Digest Miami

Ken Griffin pays nearly $100M for Palm Beach estate, new renders of 830 Brickell office tower: Daily digest

From left: Jacob Serure, Elliot Shainberg, Deme Mekras, and Aaron Kurlansky with California Club Apartments

Coral Springs investor buys apartment complex near Aventura

Brett David and a rendering of the auto spa

Prestige Imports plans $2M “auto spa” in North Miami Beach

arrow_forward_ios
Loading...