AVENTURA, Fla – One of the most popular malls in South Florida is about to add a new destination.
Sears has announced plans to redevelop its current space at the Aventura Mall to create an open-air location that will include new retail stores, restaurants, office space and a hotel.
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At the present time, Sears operates a full store as well as an auto center on over 12 acres on the south side of the mall.
The redevelopment will be called Esplanade at Aventura and will include 250,000 square feet of new retail and restaurants.
A Sears store will remain in a smaller-format.
"Sears Holdings proactively looks for opportunities to create long term shareholder value from its real estate holdings," said Jeff Stollenwerck, president of Real Estate for Sears Holdings. "Our owned real estate adjacent to Aventura Mall, one of the largest and most successful malls in the country, provides a significant platform for shareholder value creation, and we have a vision for the property that dramatically improves the overall retail experience for our Shop Your Way members and all future guests who visit Esplanade at Aventura. We look forward to executing on the plans submitted to the City of Aventura today."