New York-based Seritage Growth Properties plans to develop Esplanade at Aventura, a mixed-use development on 12.3 acres in Aventura, FL. The first phase of the shopping and dining destination totals roughly 215,000 square feet of retail, restaurant and entertainment venues.
The REIT plans to start construction by the end of the year on what they envision will be a “world class” retail experience. Situated north of Miami, Esplanade at Aventura is located at 19505 Biscayne Blvd. in Aventura.
Seritage needed to recapture a lease from Sears in order to move forward on redevelopment plans. Sears is set to close the store this summer, and plans to liquidate merchandise beginning April 28.
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