Another significant retail space at the Miami International Mall is changing hands, as Easton Group, a prominent local developer, is poised to acquire the former Sears building in Doral. The deal is expected to close soon, with Easton Group purchasing the 189,395-square-foot property from Seritage Growth Properties for $17.1 million.
Easton Group’s Big Buy
The shuttered Sears, located at 1625 N.W. 107th Avenue, is set to receive a new lease on life under Easton Group’s ownership. This long-vacant building, which originally opened its doors in 1983 and closed in 2018, has seen various temporary uses, including a haunted house attraction in recent years. Easton Group’s acquisition is being supported by a $12 million mortgage from North Miami Beach-based New Wave Loans Residential.
This latest purchase comes on the heels of another acquisition by Easton Group at the same mall. Earlier, the developer bought the JCPenney building, though JCPenney remains a tenant on the premises for now. Easton’s continued interest in Miami International Mall highlights the company’s commitment to transforming large-scale retail spaces in Doral.