J
on Samuel, a pioneer in Miami's Midtown development, is expanding into Broward County by purchasing a former Sears store for $28 million. The 18-acre property at 8000 West Broward Boulevard includes an empty big box building and is part of the struggling retail center, Broward Mall. A Barclays U.S. commercial mortgage-backed securities trust acquired the mall in 2022 for $43 million after winning a foreclosure judgment against the previous owner.

    Samuel's affiliate acquired the Sears store from New York-based Seritage Growth Properties, which had previously abandoned plans to redevelop the site into an 80,000-square-foot retail center with restaurants and stores. This sale comes on the heels of another shuttered Sears store being sold in Miami for $17.1 million.

    Samuel's development experience dates back to the early 2000s when he was part of a group that transformed an old rail yard into Midtown Miami, now a thriving mixed-use community with retail shops, restaurants, and condominiums. More recently, Samuel has ventured into Homestead, where he partnered with Estate Companies on a $14 million deal for a vacant development site. The joint venture plans to build Soleste Midtown, a 354-unit apartment complex with commercial outparcels along the city's main thoroughfare.