Brixmor to own three Miami-market grocery centers in Slate deal
Brixmor's 8-K puts three Miami-market centers, anchored by Publix, Fresh Market and Walmart Neighborhood Market, in the $636M half of the Slate REIT deal.
Three grocery-anchored shopping centers in the Miami market are headed to Brixmor Property Group. Flamingo Falls (108,400 square feet, anchored by The Fresh Market), River Run (93,600 square feet, Publix) and Sheridan Square (66,900 square feet, Walmart Neighborhood Market) all sit in the portfolio Brixmor will own outright, according to its 8-K filed September 28.
Why it matters
Brixmor and Everview Partners agreed to buy Slate Grocery REIT for $13.00 per unit in cash. The 8-K splits the assets in two: Brixmor takes 23 centers, and a joint venture takes the other 92. The three Miami-market centers are on Brixmor’s side, where the filing says the operating partnership controls all decisions and collects all the economics.
For South Florida agents and owners of neighboring retail, that means a large national landlord with an in-house leasing and asset-management platform becomes the direct counterparty at three grocer-anchored sites. The 8-K’s market column reads “Miami, FL”; we have not confirmed each center’s municipality, so check the appraiser record before relying on a specific city.
The numbers
- Brixmor Portfolio: 23 centers, 3,257,000 square feet, $636 million (22 at 100% interest, one at 50%).
- JV Portfolio: the remaining 92 assets, $1.71 billion. Everview holds 80% of common interest and Brixmor 20%.
- Miami-market total: 269,000 square feet across the three centers.
- Consideration: $13.00 per unit, with a ticking fee of $0.002482 per unit per day after January 20, 2027, roughly $150,000 a day in aggregate.
Commercial Observer put the total deal near $2.3 billion.
What’s next
The arrangement has an outside date of March 27, 2027, and the ticking fee starts January 20, 2027, so closing is expected around the first quarter. Closing is subject to customary conditions.
Watch for a recorded deed at each Miami-market center once the deal closes, and for any change in the Publix, Fresh Market and Walmart lease terms that follows. Our full coverage sits in the South Florida hub.
On the record
What we checked ourselves, and where you can check it too.
- SEC filingFlamingo Falls (108,400 sf, The Fresh Market), River Run (93,600 sf, Publix) and Sheridan Square (66,900 sf, Walmart Neighborhood Market) are listed in the Miami, FL market in Brixmor's own 23-asset portfolio tableView the filing on sec.gov