Visitors for more than ten years Aventura Mall and the adjacent shopping center They had to deal with one uncomfortable ridewithout access that would make it easier to move from one place to another. This lack of connection, which has led to litigation and anger among visitors, will soon be overcome by a business venture that promises to redefine the region’s commercial dynamic.
The owners of Aventura Mall made one $131 million acquisition This allowed them to take control of the adjacent center, previously known as the Esplanade.
The transaction closed Nov. 25 between Turnberry Associates and Seritage, a company that is in the process of liquidating its assets.
The announcement was confirmed by Harrison SofferManaging Director of Turnberry.
In dialogue with the Miami HeraldSoffer explained the background to the negotiations: “For us, the agreement was easy. Aventura Mall has never been stronger; there is virtually no vacancy and rents are at record levels,” he said.
At the same time, he added that given the vitality of the market and the strength of the property, it was “the right time” to approach Seritage.
After the purchase, the complex received a new name: The Abbey of Aventurawith signs already in place at Northeast 195th Street and Biscayne Boulevard.
Although the two settlements were only separated by a strip of parking lots, they functioned as separate worlds for years.
There were no continuous sidewalks or direct ramps; Getting from one to the other could be a challenge.
Alternatives include new pedestrian entrances next to North Italia/Jarana and another entrance near Joey.
Living together between Aventura Mall and Esplanade was never easy. When Seritage began developing the property after demolishing the old Sears, tensions arose over the relationship between the two spaces.
In 2017 the dispute escalated: Seritage Growth Properties sued Shopping center for its $214 million expansionwhat he called a “land grab.”
Practical problems were also commonplace. A walk that was supposed to take a few minutes could turn into a trip.
The new The Abbey at Aventura combines more than 40 locations Gastronomy, fashion and entertainment. They work at this place STK Steakhouse, Joeythe gym Tremble, Pura Vida Miami and the artisanal ice cream parlor salt and straw. It also contained a Lego storewhich previously operated at Aventura Mall.
The property was built in 2023 on the five-acre site that was home to Sears and its automotive center. Seritage promoted a mixed-use development there that would complement the activities of the neighboring shopping center.
Soffer claimed that integration responds to a broader shift in consumer habits:“We know our customers are looking for more than just purchases. They want experiences and places to connect with their community.”he assured.
Turnberry already handles management, programming and space leasing at The Abbey. The new name, explained Soffer, honors Abigail Roadthe street that surrounds the two complexes and acts as a traffic axis for vehicles.
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