The 999,000-sf, one-story Broward Mall, which is nine miles west of Fort Lauderdale, is the largest of the six malls in the deal. The seller of the Broward Mall is commercial real estate owner and developer Cadillac Fairview Corp. Ltd. of Toronto.
Anchor tenants there include Burdine's, Dillard's, J.C. Penney and Sears. Specialty stores include GAP, Nine West, The Bombay Co. and Bostonian Shoes.
Broward Mall is Mills' second major South Florida mall. The company also owns the 1.9 million-sf Sawgrass Mills mall in Sunrise.
Under the deal, Mills would assume $62 million in Broward Mall debt. The sale is expected to close by Jan. 31.
The Mills Corp. is a real estate development trust that owns malls across the country.
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