Sedano’s Supermarkets has acquired one of the retail centres in Miami-Dade County where the company operates as an anchor tenant, according to property records. The Florida-based grocery chain paid US$32 million for the 107,034-square-foot open-air property at 8601 Bird Road, near the intersection with Southwest 87th Avenue and close to Tropical Park.
In addition to the Sedano’s store, tenants at the property include Denny’s and Office Depot. The buyer assumed a US$6.7 million loan from the seller and increased it by US$33.4 million, bringing the total debt to US$40.1 million. Ocean Bank acted as the lender.
Background and Market Overview
Hecht Bird Road Property, an affiliate of Amdur Management, had owned the 8.7-acre property since 2004. This acquisition represents another example of the trend of grocery chains buying out their landlords.
Since 2023, Sedano’s competitor Publix has spent over US$400 million on acquiring retail centres where the company acts as an anchor tenant. In June, the Lakeland, Florida-based grocery chain paid US$24 million for a 71,191-square-foot property near Boynton Beach.
In 2024, Whole Foods, owned by Amazon, acquired the retail condominium housing its store in Downtown Miami for US$21 million. A representative for Sedano’s did not immediately respond to a request for comment. The sellers could not be reached for comment.
