The 42-year-old, 500,000-sf open-air mall, at NW27th Avenue and 79th Street, is one of the earliest open-air retail centers in South Florida.
Area brokers tell GlobeSt.com the $23.10 per-sf price is unusually low for a retail property when in recent months, average prices have been in the $80-per-sf to $100-per-sf range for comparable properties.
The reason: The property, which was built in 1960, needs another facelift and will undergo a multi-million-dollar renovation and redevelopment, Richard Tarquinio, first vice president with the Miami office of CB Richard Ellis Inc., tells GlobeSt.com.
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