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Report: Miami retail buildings sell for $342 million
Miami Beach, Fla. -- Terranova Corp. and Acadia Realty Trust have reportedly agreed to sell six retail buildings on Lincoln Road in Miami for $342 million. According to the Miami Herald, the buildings were purchased for a combined $191 million in 2011 and 2012, marking a $151 million profit in a few years.
Tenants include Starbucks, Fossil, and A/X Armani Jeans. The deal is with an unnamed institutional investor and is not yet completed. It ranks as the most expensive retail real estate transaction in Miami history. -
Yellow Box store makes California debut
Columbus, Ohio -- DSW’s Affiliated Business Group division and Yellow Box Corporation have opened the first-ever Yellow Box Footwear store in California, at the Westfield Topanga Mall, in Canoga Park.
Founded in 1998, Yellow Box is a footwear wholesaler best known for its jeweled sandals for women. The Yellow Box retail concept made its debut in June, with a store in Miami.