Investors and developers have been quietly flocking to South Miami with a retail-driven mindset.
The upscale city bordering Coral Gables has drawn interest from both national and local players as they look to affluent South Florida suburbs for investment opportunities.
Last fall, Federal Realty Investment Trust and its two local partners, Grass River Property and the Comras Company, announced they bought the majority interest in the Shops at Sunset Place for $110 million. The goal is to revamp the aging outdoor mall, which serves as an anchor for downtown South Miami. New tenants so far include outdoor furniture store Frontgate.
In the meantime, a number of smaller projects along South Dixie Highway are banking on South Miami’s potential.
Read the complete article in The Real Deal South Florida