Shuttered South Florida Sears to Make Way for Mixed-Use Development
As Sears continues down its death spiral, developers are scooping up shuttered outposts of the department store. Over in Aventura, FL, a Sears that is gearing up to close this summer will become a mixed-use project.
Per the South Florida Business Journal, the site at the Aventura Mall at 19505 Biscayne Boulevard will begin its liquidation sale April 28 and close for business in mid-July. Owner Seritage Growth Properties, which picked up 235 Sears and Kmart stores this year, will then begin construction on Esplanade at Aventura, which they are aiming to turn into a "world-class shopping and dining destination."
The development will span 215,000 square feet of retail, restaurant, and entertainment venues and is expected to break ground later this year. A rendering of the development shows a walkable area with lots of greenery and water features.
The Aventura Mall also is plotting a makeover, with the owners planning to open a new three-level wing in November, according to The Real Deal.