**The Brandon Co. Sells Red Bird Shopping Center in Miami After Nearly 40-Year Hold**
After nearly four decades of ownership, The Brandon Co. has sold the Red Bird Shopping Center, a 92,089-square-foot retail property located at 5761 Bird Road in Miami. The retail center was acquired by Asana Partners for $62.1 million. According to CommercialEdge, the property last changed hands in 1986 for $6.5 million.
The fully leased shopping center is anchored by well-known tenants including Milam’s Market, Walgreens, Orion Fuels, and Ace Hardware. Additional tenants include Crown Wine & Spirits and Quest Diagnostics. The center boasts strong performance metrics, with an average tenant tenure of 31.2 years. It attracts approximately 1.5 million visits annually, drawing 338,000 unique visitors.
Strategically situated near the intersection of U.S. Routes 959 and 976, the property is surrounded by residential neighborhoods in Coral Gables and South Miami, making it a prime retail location.
The transaction was facilitated by JLL Capital Markets’ Investment Sales and Advisory team, which included Danny Finkle, Jorge Portela, and Kim Flores.
