MIAMI-Boca Raton-based REIT Woolbright Development Inc. has purchased the site currently occupied by Don Carter Kendall Lanes in Kendall and plans to develop Carter Square, a 67,000-sf shopping center.
The shopping center will be located at the southeast corner of North Kendall Drive and SW 137th Avenue. The center is 100% preleased. The anchor tenants will be Staples and Walgreens and other tenants will include Citibank, Cingular Wireless, Starbucks, Hair Cuttery, Pei Wei Asian Diner and Panera Bread.
The company plans to break ground on the project in the fall with occupancy expected in spring 2007. "This development project is a perfect fit for our portfolio and illustrates our team's outstanding leasing capabilities," says Woolbright executive vice president of leasing and marketing Mike Fimiani. "Carter Square will be 100% leased when we break ground. Kendall is a strong market for development and redevelopment opportunities and we will continue to look for opportunities in these types of markets throughout the state."
Other Woolbright properties in the Miami area include London Square, a 325,000-sf power center at 137th Avenue and 120th Street; Intracoastal Mall, a 250,759-sf shopping center at the northeast corner of 163rd Avenue and NE 35th Avenue; Kendall Corners, a 96,515-sf shopping center at the northwest corner of SW 127th Avenue and Kendall Drive; and South Dade Shopping Center, a 261,000-sf neighborhood shopping center at the southeast corner of US 1 and SW 184th Street.
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