The New York-based Seritage Growth Properties has begun construction on the first phase of Esplanade at Aventura, the 215,000 SF ground-up development featuring experiential retail, unique entertainment and fine dining in a luxurious open-air high-street retail setting on the 12.3 acre site of the former Sears store at Aventura Mall. Once completed, the esplanade will offer a diverse mix of leading domestic and international retailers and restaurants, many of which will be new to the South Florida market, creating a world-class attraction for residents and visitors. Esplanade at Aventura is designed by SB Architects and Rockwell Group, which will feature a pedestrian boulevard, large outdoor plazas, as well as multiple patio and rooftop dining and entertainment areas. The project will also bring a new parking garage. Seritage Growth Properties is a publicly traded real estate investment trust which split off of parent company Sears in 2015. Seritage Growth Properties owns over 230 Sears properties nationwide, many of which they lease back to the struggling retailer. In 2016 Seritage Growth Properties sued Aventura Mall over the $214 million expansion which they claim violated a long-standing agreement but the case was settled and mall expansion is now nearly complete. Esplanade at Aventura is scheduled to open in late 2019.

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