CLEARWATER, FL-In back-to-back transactions, Burdines Inc., a102-year-old, 53-unit, Miami-based department store chain leased65,000 sf for 15 years at the 90,011-sf Village at Countrysidewhere it will house a Burdines Furniture Gallery. The estimatedvalue of the lease is $12 million.
The site at U.S. 19 and Enterprise Road is 80 miles west ofDowntown Orlando. The average rent is $13 per sf plus $4 per sf forcommon area maintenance.
At the same time, Burdines sold its 180,000-sf store at thenearby Clearwater Mall to New Plan Excel Realty for $4.75 millionor $26.39 per sf. The store is at State Road 60 and U.S. 19.
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