MIAMI-Northside Centre, an antiquated mall about five miles west of downtown Miami, has sold for $18 million, or $38 per foot. Built in 1960, the shopping center spans 475,579 square feet of leasable space.

Miami-based real estate brokerage Plaza Advisors’ Co-Managing Partners Anthony Blanco and Jim Michalak, together with senior financial analyst, Lenard Williams, represented the seller, an entity affiliated with Urban America, in the transaction. North Miami-based Gene Snyder & Company represented the buyer, a private investor in South Florida.

“This is an old mall that used be have a Sears and a movie theater,” Blanco tells GlobeSt.com. “Based on low income levels, the area hasn’t seen a lot of new residential development. But the shopping center serves a very dense population and draws from a wide trade area.”