Simon pays $17M for outlet store at Sawgrass Mills

Discount retail store VF Outlet sold the 75,726 sf building and parking

TRD MIAMI /
Mar.March 31, 2015 10:30 AM

Simon Property Group acquired a missing piece of its Sawgrass Mills portfolio: discount retail store VF Outlet for $16.9 million, The Real Deal has learned.

VF Outlet sold the store and parking at 12801 West Sunrise Boulevard in Sunrise to Sunrise Mills MLP Columbia on Monday, according to Broward County records. The buyer’s corporate records list an Indianapolis, Indiana address tied to Simon Property Group’s headquarters.

The site last sold for $1.25 million in 1990, and the store was built in 1991, property records show. The sale also includes part of the mall’s paved parking lot. A mortgage was not recorded.

The Rainforest Cafe, Calvin Klein and Victoria’s Secret are neighboring tenants. The mall is planning an 80,000-square-foot expansion of The Colonnade at Sawgrass Mills, which will include outlets for Ted Baker, Alexis Bittar, La Perla and Vince, as well as a first-in-state location from the Washington, D.C. eatery Matchbox. That expansion is set to open early next year.

Robert Shearer, CFO and senior vice president of V.F. Corporation, is a registered officer on the seller’s corporate records. VF is $12 billion apparel and footwear company that includes an international portfolio of brands and products, according to the website.


Related Articles

arrow_forward_ios
Rendering of Life Time’s resort at The Falls

Luxury athletic resort to take over Bloomingdale’s space at The Falls

Luxury athletic resort to take over Bloomingdale’s space at The Falls
5900 W. Glades Road and Simon Property Group CEO David Simon (Credit: Google Maps)

Simon Property sues Seritage over Boca Raton Sears

Simon Property sues Seritage over Boca Raton Sears
Rendering of the AC Hotel by Marriott at Dadeland Mall and David Simon (Credit: DLR Group)

Live, work, stay? Dadeland Mall is getting its own hotel

Live, work, stay? Dadeland Mall is getting its own hotel
AC Hotels in Sunrise

AC Hotel next to Sawgrass Mills nabs $29M construction loan

AC Hotel next to Sawgrass Mills nabs $29M construction loan
Washington Prime Group wins rezoning amid effort to redevelop Boynton Beach Mall with apartments and offices

Washington Prime Group wins rezoning amid effort to redevelop Boynton Beach Mall with apartments and offices

Washington Prime Group wins rezoning amid effort to redevelop Boynton Beach Mall with apartments and offices
LA County retirement fund sells apartments near Sawgrass Mills for $87M

LA County retirement fund sells apartments near Sawgrass Mills for $87M

LA County retirement fund sells apartments near Sawgrass Mills for $87M
Sunrise wakes up with new development

Sunrise wakes up with new development

Sunrise wakes up with new development
Soffers, Simon Property want $2B to refinance Aventura Mall

Soffers, Simon Property want $2B to refinance Aventura Mall

Soffers, Simon Property want $2B to refinance Aventura Mall
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...