WS Development Becomes Part Owner of Florida Lifestyle Center

The Avenue Viera. Picture courtesy of WS Growth

WS Growth has partnered with PGIM Actual Property within the possession of The Avenue Viera, a 550,000-square-foot life-style middle in Viera, Fla. The deal marks WS’ third funding within the Sunny State.

PGIM has been the proprietor of the Brevard County asset since 2006; the corporate bought it for $87.6 million, in response to CommercialEdge knowledge. Following the present transaction, PGIM and WS will collectively personal the open-air middle, with the latter managing the property.

The Avenue Viera occupies greater than 62 acres inside Viera, a master-planned group comprising greater than 3.8 million sq. toes of business area. Accomplished in 2004, the retail middle is residence to just about 90 tenants together with Sephora, AMC Theatres, Mattress Bathtub & Past, AT&T, Kohl’s, Lululemon, Spectrum, Hallmark, Well-known Footwear and Claire’s. The property is correct off Interstate 95 at 2221 City Middle Ave.

PGIM not too long ago offered two Florida retail facilities totaling 181,000 sq. toes. Phillips Edison & Co. acquired the Publix-anchored belongings positioned in Miramar and Jensen Seashore.