Benderson Development Finalizes Acquisition of Shops at Midtown Miami

Benderson Development has officially completed its purchase of the highly popular Shops at Midtown Miami, a major retail center in the heart of Miami. The acquisition was facilitated by JLL Capital Markets, which represented the seller in the transaction.

With a strong occupancy rate of 98.3%, the Shops at Midtown Miami continue to thrive, attracting a remarkable 3.4 million visitors annually since its opening in 2006. The property boasts an impressive tenant lineup, featuring major retailers such as Target, Ross Dress for Less, Dick’s Sporting Goods, Marshalls, and HomeGoods, all contributing to its status as a prime shopping destination.

The shopping center is strategically located in a densely populated area, with over half a million residents living within a five-mile radius. These residents have an average household income of $91,184, enhancing the desirability of the property for retailers and investors alike.

Additionally, the center provides convenient parking with 2,860 structured garage parking spaces, ensuring accessibility for its growing number of visitors.

This acquisition solidifies Benderson Development’s position in the Miami market, further enhancing their already impressive portfolio.