Accessibility Statement Skip Navigation
  • Resources
  • Investor Relations
  • Journalists
  • Agencies
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Explore Our Platform
  • Plan Campaigns
  • Create with AI
  • Distribute Press Releases
  • Amplify Content
  • All Products
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Hamburger menu
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • Explore Our Platform
  • Plan Campaigns
  • Create with AI
  • Distribute Press Releases
  • Amplify Content
  • All Products
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS

Federal Realty Acquires High-Profile Mixed-Use Center In South Miami, Florida

Federal Realty expands presence in key Miami Dade submarkets


News provided by

Federal Realty Investment Trust

Oct 01, 2015, 09:24 ET

Share this article

Share toX

Share this article

Share toX

ROCKVILLE, Md., Oct. 1, 2015 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) today announced its acquisition of an 85% interest in The Shops at Sunset Place, a 515,000-square-foot, mixed-use center in South Miami, Florida based on a gross value of $110.2 million. The transaction includes the assumption of an existing $70.8 million mortgage with an interest rate of 5.6 percent and maturity date of September 2020. The Trust has acquired the property with local market partners Grass River Property and The Comras Company.   With its recent acquisition of CocoWalk in nearby Coconut Grove, the Trust and its partners have invested approximately $200 million within a three mile area that is home to some of South Florida's strongest year-round demographics, high barriers to entry, and demand drivers including universities, hospitals and corporate headquarters.

Situated on approximately ten acres at the intersection of US1, Red Road and Sunset, The Shops at Sunset Place lies at 'main and main' within the thriving South Miami commercial district. The neighborhood sits amongst some of Florida's most affluent residential areas including Coral Gables, Pinecrest, and Coconut Grove. Approximately 100,000 people reside within three miles of the property, with an average household income of $120,000.

"As Miami becomes an increasingly urban and dense market, walkable, authentic neighborhoods like Coconut Grove and South Miami are becoming increasingly attractive destinations to live, work, shop, dine and be entertained," said Dawn Becker, Executive Vice President –Mixed Use Division, Federal Realty Investment Trust. "Like Cocowalk, Sunset Place presents a compelling opportunity to create value through integrating it with the vibrant streets that border the property, adding new tenants and delivering a mix of uses that meet the demand of the affluent, year round communities it serves."

The Shops at Sunset Place comprises 408,000 square feet of retail space, 107,000 square feet of office space and a 1,700-space parking garage. Tenants include AMC Theatres, LA Fitness, Barnes & Noble, Forever 21, Splitsville and Z-Gallerie.   The Shops at Sunset Place benefits from close proximity to the University of Miami's main campus, South Miami Hospital, some of Miami's most prestigious private schools, and a number of corporate offices. The South Miami Metrorail station is one block away, providing direct access to public transit. The property enjoys a 96% walk score according to www.walkscore.com.

"The Shops at Sunset Place was always envisioned to provide a pedestrian friendly, streetscape environment, as an extension of South Miami's "Main Street" Sunset Drive," said Michael Comras, CEO of the Comras Company. "With the right vision, balanced approach and creative thinking, The Shops will complement the area's popular restaurants, cafes and boutiques, while becoming a vital retail anchor that caters to the locals and surrounding communities. We are looking forward to working closely with all to improve and evolve this vision together."

"Looking at the demand drivers in place and the demographics in the surrounding residential community, it's easy to understand why we see tremendous unlocked potential in The Shops at Sunset Place," Tom Roth, Principal at Grass River Property added. "South Miami is one of the best urban nodes in Miami-Dade County – it is walkable, with transit at its doorstep and has a well balanced mix of commercial and residential uses. Knowing this, it will be central to our plan to better integrate with South Miami's street grid, connect back to the community and improve the Sunset experience for those that want to shop, live, visit or work there."

Local Media Inquiries
Tadd Schwartz
Schwartz Media
(305) 807-3612
[email protected]

Aaron Gordon
Schwartz Media
(305) 962-3292
[email protected]

About Federal Realty

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles.  Founded in 1962, our mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply.  Our expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities.  Federal Realty's 90 properties include over 2,600 tenants, in approximately 21 million square feet, and 1500 residential units. 

Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 48 consecutive years, the longest record in the REIT industry. Federal Realty shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.

About The Comras Company

Comras Company of Florida, Inc. is a leading retail leasing, investment and development company. The firm specializes in urban markets and provides services that include landlord and tenant representation, strategic planning, site identification, market analysis, lease negotiation, portfolio review, site acquisition and disposition. The Company was founded by Michael Comras in 1992 and has since grown to sixteen employees with seven brokers dedicated to retail leasing and sales. In addition to brokerage services, Mr. Comras has developed and owns a portfolio of street oriented retail assets in Miami's top markets. A sampling of these assets include flagship locations for Apple, Gap, Nike, Forever 21, BCBG, Sephora, and 24 Hour Fitness in locations along Miami Beach's historic Lincoln Road, Collins Avenue's "Fashion District", Coconut Grove, Wynwood, and Miami's Design District, www.ComrasCompany.com.

About Grass River Property

Grass River Property is a Coconut Grove, Florida-based real estate investment and development firm with investments across various asset classes, including residential, hotel, retail and office. Since inception, the firm has targeted investments in urban properties served by existing transportation infrastructure for high value-add residential as well as commercial and mixed-use developments stressing walkability, transit access and sustainability in increasingly dense urban settings. Grass River's principals, Justin Kennedy, Tobin Cobb, George Spillis, Peter LaPointe, Chris Cobb and Tom Roth have decades of experience working with some of the nation's largest real estate and financial firms, including LNR Property, Flagler, Hines, Bayview Financial, Deutsche Bank and Goldman Sachs. Learn more at www.GrassRiverProperty.com.

Investor Inquiries                           

Media Inquiries

Brittany Schmelz                           

Andrea Simpson 

Investor Relations                                

Director, Marketing               

301/998-8265  

617/684-1511 

[email protected] 

 [email protected]

SOURCE Federal Realty Investment Trust

Related Links

http://www.federalrealty.com

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED

Modal title

Also from this source

Federal Realty Acquires Annapolis Town Center, Advancing Disciplined Acquisition Strategy

Federal Realty Acquires Annapolis Town Center, Advancing Disciplined Acquisition Strategy

Federal Realty Investment Trust (NYSE: FRT) today announced the $187 million acquisition of Annapolis Town Center, a dominant, 480,000-square-foot...

Federal Realty Investment Trust Announces Third Quarter 2025 Earnings Release Date and Conference Call Information

Federal Realty Investment Trust Announces Third Quarter 2025 Earnings Release Date and Conference Call Information

Federal Realty Investment Trust (NYSE:FRT) will announce its third quarter 2025 earnings results before market open on Friday, October 31, 2025. The...

More Releases From This Source

Explore

Banking & Financial Services

Banking & Financial Services

Real Estate

Real Estate

Retail

Retail

Commercial Real Estate

Commercial Real Estate

News Releases in Similar Topics

Contact PR Newswire

  • Call PR Newswire at 888-776-0942
    from 8 AM - 9 PM ET
  • Chat with an Expert
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Italy
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom
  • Vietnam

My Services

  • All New Releases
  • Platform Login
  • ProfNet
  • Data Privacy

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Platform Login
  • ProfNet
Call PR Newswire at
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookies
Copyright © 2025 Cision US Inc.