The Shops at Sunset Place, a longtime retail staple in South Miami that's drawn patrons from surrounding neighborhoods as well, traded at a major discount for $65.5 million.
The developer of retail-residential neighborhood Midtown Miami, Alex Vadia, bought Sunset Place from Federal Realty Investment Trust, a Maryland-based real estate investment trust.
The sale price is nearly 60% of the $111.5 million Federal Realty Investment paid for the property in October 2015.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
