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Edens Buys Fifth & Alton in Miami Beach

December 31, 2012
Edens announced the year-end acquisition of Fifth & Alton, a multi-level retail building in Miami Beach, FL for an undisclosed price.

The fully leased retail center totaling approximately 180,000 square feet is anchored by Publix, Best Buy, Staples, TJ Maxx and Ross Dress for Less. Street-level retail tenants include Vitamin Shoppe, Petco, Brooklyn Water Bagel, Subway, Zilbert Realty, Pizza Fusion, Red Mango and Total Bank.

Edens bought the Fifth & Alton from affiliates of Robert Potamkin, Alan Potamkin and Jeff Berkowitz and was developed by Berkowitz Development Group. No brokers were reported to be involved in the sale.

With its latest acquisition, Edens now owns 20 retail properties throughout Florida, including 13 in South Florida, consistinbg primarily of open-air centers in the Miami MSA. Over the last 24 months, EDENS has added six retail properties in Miami, where it maintains one of its six regional headquarters offices, deploying close to $300 million.

Please refer to CoStar Comp ID #2631429 for more information.

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