Jon Samuel, one of the original developers of Midtown Miami, sold a retail plaza in Sunrise for $30 million.
New York-based SK Realty Management, led by principals Sam Kirschenbaum and Benjamin Rubin, bought Sawgrass Landing, a fully-leased shopping center spanning 64,510 square feet at 13713, 13775, and 13999 West Sunrise Boulevard, Lena Zubkova with Apogee Realty told The Real Deal via email.
Zubkova and Moshe Biton with Capital Group Realty brokered the off-market deal, which breaks down to $465 a square foot. Tenants include Panera Bread, Starbucks, LA Fitness and Fedex, Zubkova said.
An entity tracing to Samuel developed Sawgrass Landing in 2005, records show. The prior year, Samuel and his partners broke ground on the first phase of Midtown Miami, which included a retail building featuring five big box stores and a garage; 3,000 condos and 900 apartments.
Deed records that would show when Samuel’s entity purchased the Sawgrass Landing site are not available. The property is near Sawgrass Mills, one the largest outlet shopping centers in the country, and Metropica, a $1.5 billion mixed-use project on 65 acres.
Samuels remains active in Broward County. In December, he purchased a shuttered Sears store at Broward Mall in Plantation for $28 million. Seritage Growth Properties, a Sears spin-off that has been selling off the department store’s real estate assets in recent years, sold the 18-acre parcel.
Seritage abandoned plans submitted to the city of Plantation in 2020 to redevelop a portion of the Broward Mall Sears site into an 80,000-square-foot retail center with restaurants, stores and a sports bar.
In southwest Miami-Dade County, Samuels’ Miami-based Midtown Group is partnering with Estate Companies to develop a mixed-use project with 354 apartments and commercial space. The joint venture paid $14 million for a 20.8-acre vacant site in Homestead.
