Top Retail Stories
Forbes/Taubman JV Closes $19 Mil Deal, then Sells Off Parcels to Bloomingdales, Macy's and Neiman Marcus
By Alex FinkelsteinORLANDO-The official Orange County real estate records show the three retailers purchased individual tracts at the planned 1.3-million sf Mall of Millenia in southwest Orlando. But in reality, Forbes Taubman Orlando LLC Millenia, the mall's developer, bought 83 acres from the mixed-use venture's master developer, Orlando Southwest Partners, for about $19 million or $228,915 per acre ($5.26 per sf), then deeded back two 13-acre parcels and an estimated nine-acre parcel to the retailers.
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