On Aug. 23, an appreciation ceremony was held to recognize the accomplishments and successes of the mall throughout the years. It became the new flagship of the Hayward-based department store chain. Town of Cutler Bay By Brian Bandell - Real Estate Editor, South Florida Business Journal May 2, 2022 Updated May 2,. As part of our marketing strategy, the town has developed a promotional video which highlights the Vision, Zoning and Federal Opportunity Zone designation., The video may be viewed at Rixter did not want to comment on the new buyer, and Cayre was not immediately available for comment. 10720 Caribbean Boulevard But he adds those housing units will be different from other developments. The platforms are state of the art and are set up exactly the level of Metrorails. MD County recently was awarded $1.2 billion in federal transit money, and none of it is earmarked for Metrorail or Metromover expansionits for repairs and maintenance to existing systems. Generating an unprecedented response from a broad range of local, national, and international buyers. 6796 SW 62nd AvenueSouth Miami, Florida 33143(305)669-7030, Miami Community Newspaper Sponsored Content, Latin Builders Association Community News. It did not include anchors Sears or Macy's, but did include IHOP and First Tennessee Bank on outparcels, said Michael Rixter, general manager of the mall. How is this good news? I can see the Sears going away but the rest of the mall should be updated with better stores. *This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales. Copyright 2023 Bisnow. Noooo leave the Cutler Ridge Mall alone. It acquired the license for Mudd apparel in 2000 and Buster Brown in 2003. So there is no ridership.but WE NEED a $100 gazillion metrorail expansion. It was announced on Mar. Public records from the Shelby County Register's Office show the address of the LLC as that of Aurora Capital Associates in New York - the same address as that of The Cayre Group Ltd. google_ad_height = 125; He said Florida not Miami. Wd dont want anh more peopke and traffic. ", http://www.commercialappeal.com/mca/my_life/article/0,2846,MCA_25356_4981717,00.html. Metrorail doesnt go offer routes feasible for people going to and from Coral Gables. We need you to be cool with us holding onto your email address (if we already have it) and for us to email you about commercial real estate news and events. First Republic Bank Sold to JPMorgan Chase, Aprils Apartment Rent Growth Hits Several Grim Milestones, Those New Office Building Amenities Come With Legal Risks, W&D Thinks Apartment Deals Will Start Up Again in H2, First Republic Largest Lender to San Francisco Multifamily Sector. The mall opened as Southland Mall in 1978 and was Marion County's premiere shopping and entertainment destination until the new businesses began stealing shoppers' attention, Schertzer said. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. I just hate to see it go it was such a big part of my childhood and my cousins childhood. 1. Leveraging decades of expertise, Electra America is committed to transparency, the alignment of interests between sponsors and investors, and delivering superior risk-adjusted returns to its investors and partners. Some people may have been surprised when it was announced on various real estate news websites that Cutler Bay's Southland Mall, 20505 S. Dixie Hwy., had been seized by Wells Fargo Bank,. The 80-acre, $1 billion redevelopment will be one of the largest projects of its kind in the Southeast and will be called Southplace City Center.. The stellar team at BH Group brings complimentary skills to the real estate market including acquisitions, construction, design, capital structuring and asset management. 510-266-6640. Not enough people are riding the bus and that is the excuse the city will make to not expand metro rail. www.dropbox.com/sh/hfjb3syv30f23j6/AACZhJB8vv0SA4Mcbsb78d5za?dl=0&preview=Cutler+Bay+Town+Center+2019.mp4. Sears is closing stores nationwide. The City of Southfield has sold the historic Northland Mall for Southland Mall sold to Namdar Realty Group - Memphis Business Journal Did I say we should copy Minnesota housing? Find property contacts with verified and updated contact information on Others have shifted their presence to focus on ecommerce. More Details. *This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales. There is no county money nor federal money for this. Southland Mall - 20507 South Dixie Hwy - COMMERCIALCafe Call 305.669.7030 or view our Media Kit. CommercialEdge. Throwback Tulsa: Southland mall builder was big man with a big heart The lack of interest in the once bustling mall previously owned by. It now has nearly 100 tenants, including anchors Macy's, JCPenney, TJ Maxx and Ross. The Children's Place. features a total of 146,658 SF. Southland Mall SoldA Message from the Mayor Southland Mall, originally known as Cutler Ridge Mall, is a shopping mall in Cutler Bay (formerly Cutler Ridge), Florida. Nine bays . sales, mortgages, financials, title documents and more. Southland Mall - 20507 South Dixie Hwy was last sold on 16 May, 2022. Connect To Your Customers & Grow Your Business. 2022 CBS Broadcasting Inc. All Rights Reserved. Southland Mall Dental, P.A. Coordinates: .mw-parser-output .geo-default,.mw-parser-output .geo-dms,.mw-parser-output .geo-dec{display:inline}.mw-parser-output .geo-nondefault,.mw-parser-output .geo-multi-punct{display:none}.mw-parser-output .longitude,.mw-parser-output .latitude{white-space:nowrap}253428N 802207W / 25.574392N 80.368735W / 25.574392; -80.368735. 2023 Top Security Trends: User Experience and Convenience Are Driving More Effective Security for CRE. More Details. Copyright 2023 ALM Global, LLC. Demand For Brightline So High That It Just Earned A South Segment Profit: Never Really Intended, Aston Martin Residences Now Second Tallest In Miami, Closer To Completion, Dolce & Gabbana Planning Major Residential Project In Miami, 649-Foot Missoni Baia Appears Near Completion In Edgewater, With New Baywalk, SmartCity Buying Genting Site For $1.2B, Planning Something Spectacular, Interior Demo Permit Issued This Morning At One Bayfront Plaza Supertall Site. Shopping mall in Cutler Bay, Florida, U.S. Cutler Bay (formerly Cutler Ridge), Florida, "Fitch: Southland Mall in 'imminent default' - South Florida Business Journal", "University of Miami Libraries Collections", "The Miami News - Google News Archive Search", "Cutler Ridge Mall To Be Rebuilt By Debartolo - Free Online Library", "Post-Hurricane Andrew, Retail Returns to S. Miami by Bob Andelman", "LURIA'S PLANS 40,000-SQUARE-FOOT SUPERSTORE AT REBUILT CUTLER RIDGE MALL - Free Online Library", "Former Cutler Ridge Mall making a new entrance - South Florida Business Journal", "Regal plans 16-screen theater in south Miami-Dade", "Investcorp buys Southland - South Florida Business Journal", "Sears and Kmart store closings: 51 Sears, 45 Kmart locations to shutter. A county-wide transit assessment emphasized utter necessity for metro rail extension with Southland mall as a metro rail and other transit hub. More Details. Your article was successfully shared with the contacts you provided. towards a paywall. We need additional data to finish your registration. Electra America is a partnership between The Lubeck Family and a subsidiary ofElectra Real Estate Ltd., an Israeli company founded in 1972 and publicly traded on the Tel Aviv stock exchange (TLV: ELCRE). Off board fare collection. I did too. Now public records are giving a little more information about the buyer. The city of Southfield has sold the historic Northland Center. We want to take 15 seconds to tell you what's going on: Sound good? We will email you a link to reset your password. Not gonna happen. A 7 story bedroom community is just going to cause more traffic/congestion in the area of that mall. The store closed on February 14, 2020.[13]. Investcorp engaged Gumberg Asset Management Corp in Fort Lauderdale to handle the day-to-day management and leasing of Southland Mall.[11]. A talent show hosted by Power 99 deejay Freddy Hydro narrowed eight contestants down to the top three, and awarded the first-place winner, Aujawa Washington, 14, with studio time from Power 99. Existing zoning allows 15 floors and 720 apartments, according to the Herald. The program concluded with Cheryl Jefferson's name being drawn for an island trip for two provided by Soul Classic 103.5 FM and Power 99. Electra America and BH Group recently announced they have purchased the former Sears building on the Mall's site. Use the form below to reset your password. There would be a tax increase in some form to pay for it. Specifically, the developers master plan calls for updating the existing 808,766-square-foot mall with cosmetic improvements and the addition of several new high-quality retailers; the phased development of 4,395 new market-rate apartments catering to a full spectrum of household budgets; the addition of several new retail and restaurant concepts, situated around a series of man-made lakes and open spaces; a new specialty grocer, a 150-key hotel, and 60,000 square feet of medical office space; and a terraced community amphitheater/bandshell. In September 2009, Kohl's took over the Mervyn's store that had been shuttered earlier in the year. On Aug. 24, the Heart and Soul program showcased neo-soul, reggae singers and spoken-word poets. Language links are at the top of the page across from the title. The site is ready for change and this project will check so many boxes on our communitys wish listthousands of jobs, more restaurants, entertainment, and a fresh look, to name a few. The development team acquired the mall and adjacent parcels totaling 80 acres in May of this year. Why hasnt he made it a priority to get federal funds down here for transportation? Southroads, ironically, took the opposite. Yeah. The comparison would not make sense, because Miamis population has been increasing since then. The appreciation ceremony concluded with Belk and family members releasing 40 balloons into the air to symbolize 40 years of history. Fortunately, some of our favorite mall stores still exist including The Gap, Hickory Farms, and Bloomingdale's. But far more have been consolidated, rebranded, or just closed down (we're looking at you with sadness, Esprit de Corps ). Again guys THERES NO MONEY FOR A METRORAIL EXPANSION. 1947), All history and art are against us, but we still expect happiness in love.Mason Cooley (b. google_ad_format = "125x125_as"; Based in Tampa, Florida, American Landmark specializes in the acquisition and management of value-added multifamily properties located in high-growth markets throughout the Sunbelt, including Arizona, Georgia, Florida, North Carolina, South Carolina, Tennessee and Texas. 10 Regional Powerhouses to Watch: Top Retail Brands Dominating Local Markets. The mall features a full-sized Italian carousel. Centennial scooped up the mall at 1675 West 49th Street by assuming. Just forget it. Find property characteristics, ownership, tenant details, local market insights and more. The center is located off Interstate 880 at Winton Avenue, at the western end of the city. Photo by Philip B. Poston/Sentinel AURORA | With thousands of cars cruising by on the E-470 toll road everyday and a steady stream of new rooftops in the neighborhood, Southlands Mall doesn't struggle to lure shoppers. The site incorporated a freestanding Sears location and a few other stores operating as the Palma Ceia Center (Palma Ceia being Portuguese for "Palm Supper", a reflection of the ethnic Portuguese heritage of Oakland and its newly developing suburbs) and a $20 million expansion program was announced in the fall of 1963, in which the facility would become an enclosed mall. Southland Mall | Houma LA - Facebook At zip code level, there are 11 commercial properties, of which 9 Thats what youre advocating to pay for this huge undertaking. 2 that long-troubled Southland Mall had been sold to a team of two companies private equity investor Electra America and developer BH Group for $100.35 million.. Details: Southland Mall, Memphis' first enclosed mall when it opened 50 years ago, has sold for $4.3 million in foreclosure. CommercialEdge: FOX 2 Detroit. We have been in contact with many groups looking to redevelop the mall, Mayor Meerbott said. Steve & Barry's closed in late 2008. (786) 393-7192. Investment Firms Buy Southland Mall, Plan To Modernize It, Build High A limited liability company named Southland Mall Shopping Center LLC last month bought the property from Memphis Joint Venture, financing the purchase with a $17 million loan through Wachovia Bank. Already have an account? The stations are safe, secure and easily accessible and upgradeable for the day that there is enough ridership to substantiate upgrading. Hiw about just staying out of South Dade. The SFBJ said that the new project would have thousands of units, however. It seems likely at this point, based on announced intentions, that most existing stores and restaurants will remain, with new features being added to surrounding areas of the mall property. Mayor reacts to issue of Southland Mall's sale The property sits across from a new stop on the South Corridor Bus Rapid Transit project, which is currently under construction and slated to open early next year. Cutler Bay Mayor Tim Meerbott also is optimistic about the possibilities. Plans Unveiled for $1 Billion Redevelopment of 80-Acre Southland Mall Lucky's closed its doors on August 2, 2008. This was literally purchased last week, I love how people think this is going to make Florida better. Sign In Now. JC Penney at Southland Mall in Cutler Bay, Florida, south of Miami. The Southland Mall in Cutler Bay was sold to Electra America and BH Group. google_ad_client = "pub-3056635427836124"; The entire community will feature bike and golf cart paths, pedestrian walking trails, and trolley stops to minimize the use of cars. The site is conveniently bordered by the Florida Turnpike on the east and U.S. 1 on the west, placing it on major commercial crossroads in suburban Miami-Dade County, directly along the new South Corridor Rapid Transit Project, expected to open in . Click any thumbnail image to view a slideshow, Cutler Bay Town Hall . We need you to know that security is our top priority and that we hold any information we have about you under lock and key. Our news is free and we intend to keep it that way. As the coronavirus pandemic was bearing down and tenants struggled, Investcorp decided to let the property go,The Real Deal reported last year. However, with more units being built in t he area that should help speed thigns up, thats because nobody wants to ride the crappy bus; and those super rich folks in Coral Gables dont ride the metrorail; the whole thing doesnt make sense. There are thoughtful professional DOT blueprints, proposals and discussions easily available on the web for those interested in this critical topic. The original shopping center opened in 1960, anchored by Food Fair (Pantry Pride) and Richard's, which later became Burdines. Harbor Group International was the buyer. Gifts also included a trophy, an air-brushed shirt from Air Xpressions and a gift certificate from 4Ever Young. Source: The Daily News Online & Chandler Reports, http://www.memphisdailynews.com/Editorial/StoryDaily.aspx?story=digest&date=2/16/2007, , Memphis Links See the list", Miami International University of Art & Design, Adrienne Arsht Center for the Performing Arts, Phillip and Patricia Frost Museum of Science, Seminole Hard Rock Hotel & Casino Hollywood, Fort LauderdaleHollywood International Airport, https://en.wikipedia.org/w/index.php?title=Southland_Mall_(Miami)&oldid=1128442379, Shopping malls in Miami-Dade County, Florida, Short description is different from Wikidata, Infobox mapframe without OSM relation ID on Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 20 December 2022, at 04:24. Were looking forward to continuing working with the community to ensure this project reflects the values and character of Cutler Bay. Southland Mall is a regional shopping mall in the Whitehaven neighborhood of South Memphis, Tennessee. They really need to extend that metro rail, traffic south of the metro is a nightmare but the new housing units is a good start. The connection hasnt been madeand Im curiouswhat does Minneapolis have to do with greater Miami? Were delighted to work with the Town of Cutler Bay and its residents to breathe new life into a property that has been underutilized for decades, and in so doing, create thousands of new jobs, as well as help alleviate the housing crunch facing many Miami-Dade residents today, said Ron Gaither, Chief Development Officer of Electra America. 11am - 8pm. A Liberty House (later Emporium Capwell and then Macy's) was part of a major expansion completed in 1972, which included an indoor ice rink. Extensive light rail is the only solution where the US1 busway and 117th Ave run as main corridorsalong with other main thoroughfares. The population in the state of Florida is about 22.3 million people or more. It will be better.