The developer of Midtown Miami paid $28 million for the site of a shuttered Sears store at the Broward Mall in Plantation.
Seritage SRC Finance, the company created to manage Sears’ real estate, sold the 17.8-acre property on the north side of the mall at 8000 W. Broward Blvd. to Midtown Group. The S. Florida Business Journal reports that Midtown Group turned an old rail yard into Midtown Miami, which is now a thriving neighborhood in the city.
The Sears at the Broward Mall closed in 2018 after 40 years in business. The former Sears building has been partially demolished and is in shell condition.
Meanwhile, the 30.8-acre Broward Mall remains owned by a lender after it was seized in foreclosure in 2022. However, the Dillards, Macy’s and JCPenney big box stores there remain owned by other parties.
Potentially, the Broward Mall could become a redevelopment site as a mixed-use project in the center of Broward County.
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