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Southland Mall features JCPenney and Macy's as its anchor stores. Sign In Now. "It's an embarrassment. www.dropbox.com/sh/hfjb3syv30f23j6/AACZhJB8vv0SA4Mcbsb78d5za?dl=0&preview=Cutler+Bay+Town+Center+2019.mp4. We look forward to working with Electra America and BH Group to bring this important project to life, while keeping it consistent with the character of our beautiful Cutler Bay.. Wd dont want anh more peopke and traffic. Website. Nine bays of the 76 in the mall and on the outparcels are vacant, he said. Barry Sternlicht's Starwood Capital Group sold Westland Mall in Hialeah to a Dallas-based retail real estate firm. Extensive light rail is the only solution where the US1 busway and 117th Ave run as main corridorsalong with other main thoroughfares. Good more density near future metrorail stations hopfully. The Heal the Hood Foundation performed their Wake up Tour with a positive message in each performance. 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. Fax:(305) 234-4251. South Dade's Southland Mall has been sold, and the new owners are said to be planning thousands of new residential units, according to the SFBJ. What is more important , what will the People get for the tidy sum of $ 368 million. Generating an unprecedented response from a broad range of local, national, and international buyers. Existing zoning allows 15 floors and 720 apartments, according to the Herald. ", First published on May 3, 2022 / 11:15 PM. Connect To Your Customers & Grow Your Business. AC. Our zoning is very favorable to development which can include high density mixed use type of development. List your spaces with ease and generate only verified leads with CommercialEdge Marketing. On July 7, 2017, it was announced that Kmart would be closing on October 1 as part of a plan to close 43 Kmart and Sears stores nationwide. Use the form below to reset your password. Politicians did not have to guts to tell taxpayers the ugly truththat the mass expansion they touted would take around a 1.5 2 cent sales tax increase. towards a paywall. "Mr. Belk's commitment to the property, the extensive renovations completed in 2005 restoring Southland Mall to its prominent position as the flagship of retail businesses in Whitehaven and unique business strategies have placed Southland Mall on the road to continued success.". You wanna get taxed outta Miami? You may login with either your assigned username or your e-mail address. Even in 2018 dollars, that would be approx $1.74 billion to extend Metrorail from Dadeland South to Southland Mall, figure over $2 billion today and far more in a few more years. There was also a freestanding Sears. 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. Unlock in-depth property data and market insights by signing up to Get browser notifications for breaking news, live events, and exclusive reporting. The SFBJ said that the new project would have thousands of units, however. The new, fully enclosed mall included a Woolworth and JCPenney. 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,. 23000 Eureka Road, Taylor, MI 48180 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. Transit-Oriented Development? Southland Mall - 20507 South Dixie Hwy was last sold on 16 May, 2022. [5] The owner, Simon DeBartolo (now Simon Property Group) declared bankruptcy in the late 1990s and ownership was transferred to Lender Ocwen Federal Bank. "There isn't as many people as other mall so hopefully the new management it will get better," said Carlos Salas. This. All Rights Reserved. In February, Ford City Mall's owner, iStar Financial, hired Jones Lang LaSalle to sell the shopping center that it acquired from Sam Zell in late 2012 through a deed-in-lieu of foreclosure. A Kmart store closed in 2017 and a Sears closed in early 2020. That Sears in the photo is in some of my earliest memoriesback in the 1970s. More Details. Carry Out. Our news is free and we intend to keep it that way. Fitness, Regal Cinemas, Old Navy . Details: Southland Mall, Memphis' first enclosed mall when it opened 50 years ago, has sold for $4.3 million in foreclosure. google_cpa_choice = "CAEQjMGkgwIQ0MCkgwIQlMCkgwIQ2L-kgwIQnL-kgwIQ4L6kgwIQpL6kgwIQ6L2kgwIQrL2kgwIQ8LykgwIQtLykgwIQ7Pa39gEQsPa39gEQ9PW39gEaCPGka20_VnAHKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEBKJDD4IEB"; Like every other business in America, Southland Mall opens and closes on certain holidays. The market value* for Southland Mall - 20507 South Dixie Hwy in 2022 was $5,283,774. The city of Southfield has sold the historic Northland Center. 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. It works seamlessly. Read more about this topic: Southland Mall (Hayward, California), The visual is sorely undervalued in modern scholarship. 1,018 were here. Metromover doesnt cut it. In addition, Meerbott says the plan is to build a walkable space, which will also include housing. It's a community in itself.". Taxpayers half cent sales tax increase paid for the 2.4 mile airport Metrorail expansion, plus maintenance and repairs to existing Metrorail. Payment systems are touchless and link directly to any of your payment platforms (ApplePay, Google, Zelle, PayPal, your bankwhatever). The longer elected officials delay metrorail expansion, the more expensive that expansion will be. Downtown Memphis Blog Upcoming regulations in the European Union require us to show this pop-up and ask you to agree to keep using Bisnow.com. Florida cant look to Minnesota for solutions, theyre too small. CommercialEdge. We anticipated this back in 2006 and that type of development would not require any zoning change. In 1998, Old Navy opened next to Sears. At zip code level, there are 11 commercial properties, of which 9 It will be open next year. South Dades Southland Mall has been sold, and the new owners are said to be planning thousands of new residential units, according to the SFBJ. For more information, visitwww.electramerica.com. The mall was nearly destroyed by Hurricane Andrew in 1992. So there is no ridership.but WE NEED a $100 gazillion metrorail expansion. The stellar team at BH Group brings complimentary skills to the real estate market including acquisitions, construction, design, capital structuring and asset management. Minneapolis is currently 17.7% smaller than it was in 1950. Subscribe to Bisnow's South Florida Newsletters. The property tax for Southland Mall - 20507 South Dixie Hwy in 2022 was $94,936. Campbell . Minnesota is the Land of 10,000 lakes. Southroads, ironically, took the opposite. It was developed in 1959.. 510-266-6640. Cutler Bay town manager Rafael Casals said much can be done to keep the main areas of the mall intact, perhaps making the food court an open air space, and adding some new elements to part of the property to help revitalize the area and businesses. How is this good news? The mall features a full-sized Italian carousel. Southland Center is the only regional mall in the Detroit suburbs south of I-94, near the I-75,. Jeremy Larkin, co-chairman of commercial brokerage NAI Miami, who wasn't involved in the deal, told the Miami Heraldthat the mall has redevelopment potential considering the population in Cutler Bay has grown 15% over the past decade. "Southland Mall has the lowest crime rate compared to the other malls in Memphis, according to the Memphis Police Department. In June 2020, Wells Fargo filed a foreclosure lawsuit against Southland Mall Properties for. But, Just Do It anyhow right? Language links are at the top of the page across from the title. I did too. BH Group is a Miami-based real estate development firm focused on the ground-up development of luxury projects throughout South Florida. And, according to a 2006 article from The Boston Globe, a man named Robert Cayre - who the Globe said is vice president of Aurora Capital - was part of a team interested in buying the historic Filene's building in Downtown Boston. "Cutler Bay is the geographic center of the county yet there's very little opportunity here for jobs, very little opportunity here for entertainment, and this could be the spark that changes everything," added Meerbott. They are adding it to the joint Ground-breaking on the first residential building is expected in mid-2023 and would deliver in approximately 18 months (early 2025), with rents starting at $2,500. "So, we develop a division which would be amenable with our town a mix-used environment that will bring all the things that we can use restaurants, entertainment, jobs something that's very vital in every community," added Meerbott. Truly the mall desperately needs renovation, & proposed plan would satisfy housing for many people. Southplace City Center will provide a wide range of market-rate housing options, and its location close to major thoroughfares and mass transit, yet away from residential communities, minimizes traffic and facilitates the use of public transportation two key priorities for this community. All Rights Reserved. The mall had been owned by a subsidiary of Investcorp, a global firm with headquarters in Bahrain and $35B in assets under management. Now public records are giving a little more information about the buyer. People have been leaving Minneapolis in droves since two weeks from today, two years ago. Really will be cost prohibited. Allow me 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. The Southland Mall in Cutler Bay was sold to Electra America and BH Group. 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 ). In 2002, management of the mall was assigned to T/S Development of Miami, Florida, which changed the name of the mall in November 2003 to Southland Mall. Download this report and discover how CRE organizations are driving process efficiencies, sustainability and security for spaces, buildings and lives. 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. How? He said Florida not Miami. Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business. The new ownership team envisions a city within a city for living, working, shopping, and playing that will feature more than 4,000 residential units, over 500,000 square feet of curated retail, and exciting dining and entertaining venues at the existing mall, with an additional 150,000 square feet of prime retail space and outparcels for food and beverage operators. Click any thumbnail image to view a slideshow, Cutler Bay Town Hall Did I say we should copy Minnesota housing? Noooo leave the Cutler Ridge Mall alone. The mall opens at noon on Sunday and closes by 6 pm. A 7 story bedroom community is just going to cause more traffic/congestion in the area of that mall. 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. Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. Build the MetroRail This could help the housing situation. The former Richard's/Burdines building was torn down for J. Luria and Sons, a local catalog showroom chain, which opened at the mall in 1994. We would go to that mall a lot in my childhood years. Max W. Campbell was a big man. Yeah in about another 10 years. The property last traded for $46 million in 2004. It will be better. For more information, please visit www.alapts.com. Southland Mall - 20507 South Dixie Hwy is located at 20507 South Dixie Hwy in the Cutler Ridge Center neighborhood, Cutler Bay, FL, 33189. 2022 CBS Broadcasting Inc. All Rights Reserved. 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. And better is what town officials say they are working towards. The total list of tenants and suites, along with other lease information, for this property is available on The new owners will also remodel the existing mall. According to town officials, the mall, which was in bankruptcy, was recently sold for more than $100 million and the new owners have agreed to work with the town to transform the more than 80-acre property. 10720 Caribbean Boulevard The connection hasnt been madeand Im curiouswhat does Minneapolis have to do with greater Miami? Download this white paper and learn how to keep commercial buildings current with mobile access technology. Visit today! "It's great that Southland Mall supports the community providing a safe place to walk," said Gwen Nelson, an eight-year Southland Mall walker. sales, mortgages, financials, title documents and more. Thats what youre advocating to pay for this huge undertaking. The new owners are planning for a mixed-use redevelopment of the 80-acre site with commercial and residential components. Southland Mall Management Office (305) 235-8880 ext. We need you to be ok with our use of information like your general location or reading habits to personalize your experience, so we can suggest the right stories to read or events for you to attend. There is a shortage of housing units in Miami-Dade at all tiers. It was purposely built, featuring imagery of New York, and operated at the Rotterdam Square Mall in Rotterdam, NY from 1988 until it was sold in January 2007. The Broward Mall has a new owner after a lender acquired the retail property for $43 million in a foreclosure auction. Leila Batista agreed, saying, "It concerns me about the property value in the area because it's already going up. Already have an account? There are thoughtful professional DOT blueprints, proposals and discussions easily available on the web for those interested in this critical topic. https://streets.mn/2022/05/06/minneapolis-rents-drop/. www .southlandmallmemphis .com. Enter your email below. Gifts also included a trophy, an air-brushed shirt from Air Xpressions and a gift certificate from 4Ever Young. The mall also features a movie theater, LA Fitness, DSW Shoe Warehouse, Victoria's Secret, Old Navy, TJ Maxx, Buffalo Wild Wings, and Ulta. [2], Most of Southland was developed in the early 1960s. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. 11am - 8pm. Were looking forward to continuing working with the community to ensure this project reflects the values and character of Cutler Bay. Southland Mall is the large retail landlord's first Memphis property. 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). features a total of 146,658 SF. "It would be a good opportunity, but the high-quality, high-pricing housing, a lot of people can't afford that," said Cutler Bay resident Latoya McCray. Minnesota is cold. It was built in 1966, becoming the first enclosed mall in the Mid-South. "Southland Mall's 40th anniversary was truly an occasion to remember, bringing the community together to celebrate its history and its continued success," Rixter said. Mobile Access Management: Finding a Home in Commercial Facilities. The joint venture to develop the 430-unit multifamily tower in the Park West district of Miami. The plan also calls for a new vehicular entrance directly off U.S. 1, featuring a welcoming entrance square with a large fountain and extensive green space, along with a pedestrian bridge connecting the community to the new bus rapid transit stop. Fun Minneapolis facts: But officials of the Town of Cutler Bay say they were prepared for the possibility and had begun making arrangements for the likely outcome, since area residents who shop and go to movies there and the many hundreds of people employed there could be impacted. Nobody is saying it should be free. A Miami-area mall has been seized by its lender, which won a Feb. 10 foreclosure auction with a $2,600credit bid, the South Florida Business Journalreported. "You have to worry about what's gonna happen when a mall is struggling, so we decided to come up with a vision for this area rather than leave it at the hands of the developer on their own," said Tim Meerbott, the mayor of Cutler Bay. Located at 20505 South Dixie Highway, the Southland Mall is currently 80% occupied with a mix of more than 100 tenants including JCPenney, Macy's, TJ Max, L.A. Literally all thats missing is rail and itd be a modern metrorail stop. In 2015, Sears Holdings spun off 235 of its properties, including the Sears at Southland Mall, into Seritage Growth Properties.[12]. This is why so many people are being bled out of Miami because the quality of life there sucks now.

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