(Save the date: RealShare Industrial2012 comes to The Bankers Club,Miami, December 5 - 6.)
MIAMI BEACH—After five decades of looking for a creative way toexpand Bal Harbour Shops, the Whitman family has come up with asolution—partnering with a church. Church by the Sea has agreed tosell the land at 501 96th St. to the luxury retail center owner.Church by the Sea has been located on the lot for nearly 70years.
As part of the deal, Bal Harbour Shops is building a50,000-square-foot, eco-friendly church on land that it owns at theintersection of Bal Bay Drive and Park Drive. The church relocationwill allow Bal Harbour Shops to undergo a 200,000-square-footexpansion. Financial terms of the deal were not disclosed.
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