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Why One Firm Bet $285M on Kendall Retail

MIAMI—“Rarely does an opportunity of this scale and magnitude become available in one of the nation’s strongest performing and most desirable retail markets.”

Sitting on 70 acres at the Florida Turnpike and Kendall Drive interchange in Miami, The Palms at Town & Country is located at 8505 Mills Drive. Sitting on 70 acres at the Florida Turnpike and Kendall Drive interchange in Miami, The Palms at Town & Country is located at 8505 Mills Drive.

MIAMI—One of the most iconic open-air retail centers in South Florida has traded hands. The Palms at Town & Country in Miami, which spans 667,757 square feet, sold for $285 million.

HFF’s senior managing director and co-head of HFF’s retail practice Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi marketed the property on behalf of the seller, TIAA Global Asset Management.  Weingarten Realty Investors purchased the retail center free and clear of existing debt.

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Jennifer LeClaire

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