The new owners of the Shops at Sunset Place mall in South Miami have revealed their redevelopment plan, which includes apartments and a hotel.
The 515,000-square-foot center was acquired for $110.2 million in 2015 by the joint venture of Federal Realty Investment Trust (NYSE: FRT), Coconut Grove-based Grass River Property, and Miami Beach-based Comras Co. The mall has been struggling to attract shoppers for several years and the new owners openly admitted that its designed needed a major refresh.
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