Prime Retail Property Enhances Existing South Florida Mixed-Use Portfolio
Gazit Horizons Inc., a leading real estate company focused on the ownership, development and management of shopping centers and mixed-use properties in major urban markets, announced today that it has acquired Sunset West Shopping Center, a 73,072 SF neighborhood supermarket-anchored retail center situated on approximately 6.5 acres at the prominent intersection of Sunset Drive and SW 87th Avenue in Miami.
“The Sunset corridor of East Kendall is a high-quality, densely populated submarket in South Florida, and Sunset West Shopping Center fits well into our portfolio of well-located, high-demand properties,” said Zvi Gordon, President and CEO of Gazit Horizons. “With our experienced and proactive real estate management team we expect to further enhance this important neighborhood center for the benefit of our tenants and customers.”
A new Aldi grocery store is anticipated to open this year at the property which will further strengthen the center’s role as an essential daily shopping destination. Additionally, Sunset West features a vibrant mix of service-oriented and medical necessity-based tenants, providing everyday goods and services along with varied dining options for the surrounding community.
The fully-leased property is located approximately two miles from Baptist Hospital of Miami, one of the region’s largest medical campuses. The surrounding area continues to experience population growth and strong neighborhood retail demand, serving the established South Miami community.
Chaim Katzman, Chairman of Gazit Horizons and Founder and Controlling Shareholder of its parent company, G City Ltd., was the founder of Equity One Inc., a NYSE-listed REIT headquartered in Florida. Prior to its $6 billion sale in 2017, Equity One was one of the largest owners of high-quality supermarket anchored strip centers in Florida and across the United States. This acquisition further builds on the company’s extensive history and experience creating value at high-quality strip centers.
About Gazit Horizons, Inc.
Gazit Horizons Inc. is a real estate company focused on the ownership, development, and management of retail, residential, and mixed-use properties in major urban markets in the United States. Headquartered in Miami, Gazit Horizons invests in well located, high-quality properties where it can create value through proactive asset management, redevelopment, or development activity. Gazit Horizons is the US Subsidiary of G City Ltd. (TASE: GCT), a leading global real estate company. G City Ltd. owns and operates in excess of $10 billion of real estate properties in North America, Europe, Israel, and Brazil.
