Weingarten Pays $285M for Miami Open-Air Retail

Weingarten Realty Investors acquired the 664,000-square-foot Palms at Town & Country in Miami. The Houston-based REIT paid TIAA-CREF $285 million for the property, which was renovated in 2010.

The open-air center is on 70 acres on Mills Dr., near the Florida turnpike and Kendall Drive interchange. Tenants include Kohl’s, Marshall’s Dicks Sporting Goods, Toys “R” Us, and several restaurants.

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