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Northside Centre Shopping Center Trades for $18M

MIAMI-A South Florida private investor snapped up nearly 500,000 square feet of retail space near downtown Miami for far below replacement costs.

By Jennifer LeClaire | Updated on October 01, 2010

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.

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