September 30, 2016
Partners Federal Realty Investment Trust, Grass River Property and Comras Co. have released new plans for the 515,000-square-foot Shops at Sunset Place mall in South Miami, FL. The partners, which had acquired the retail center for $110.2 million last year, acknowledged that the struggling property requires a major refresh, and have filed plans with South Miami for changes.
One of the changes would involve demolishing a section of the mall at the corner of U.S. 1 and Red Road. In its place, the developers would build two apartment buildings with a total of 400 units, and a 200-room hotel. Also included would be street-level retail. For the rest of the retail space, the developers want to renovate the three-story building, located along Red Road. Also planned are upgrading the landscapes and artwork installations.
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