**The Brandon Co. Sells Miami Retail Center After Nearly 40-Year Hold**
After nearly four decades of ownership, The Brandon Co. has sold Red Bird Shopping Center, a 92,089-square-foot retail property located at 5761 Bird Road in Miami. Asana Partners acquired the fully leased center for $62.1 million. According to CommercialEdge, the property was previously sold in 1986 for $6.5 million.
Anchored by Milam’s Market, Walgreens, Orion Fuels, and Ace Hardware, Red Bird Shopping Center also features tenants such as Crown Wine & Spirits and Quest Diagnostics. The center enjoys strong retail metrics, including an average tenant tenure of 31.2 years and approximately 1.5 million annual visits from 338,000 unique visitors.
Strategically situated near the intersection of U.S. Routes 959 and 976, the shopping center is surrounded by residential neighborhoods including Coral Gables and South Miami.
JLL Capital Markets represented the seller in the transaction. The Investment Sales and Advisory team included Danny Finkle, Jorge Portela, and Kim Flores.
