B
enderson Development has expanded its South Florida portfolio with the acquisition of Shops at Midtown Miami, a 347,740-square-foot big box center, for $83.7 million. The property, anchored by Target and featuring tenants like Marshalls and Ross Dress For Less, boasts nearly full occupancy and attracts 3.4 million visitors annually. The deal, brokered by JLL's Danny Finkle and Eric Williams, translates to approximately $241 per square foot.

    The Shops at Midtown Miami is situated within the 56-acre master-planned community of Midtown Miami, which also features a Trader Joe's supermarket and Petsmart store on separate parcels. Site Centers Corp.'s spinoff, Curbline Properties, owns an adjacent retail plaza anchored by West Elm and Nordstrom Rack.

    Benderson Development, led by President Randy Benderson, has acquired several properties in South Florida recently, including a Pompano Beach grocery store leased to Publix for $7.1 million and Linton Commons, a Delray Beach shopping center, for $28 million. The company owns 55 million square feet of commercial real estate across the US and continues to expand its national portfolio.