Sawgrass Mills was ranked No. 2 among the most valuable real estate investment trust-owned malls in the United States, according to a new study by boutique research firm Boenning & Scattergood.
The Simon Property Group-owned mall in Sunrise has$4.1 billion in asset value and $1,149 in sales per square foot, ranking second only to the Ala Moana Center in Hawaii, which is valued at $5.74 billion.
PBN File
The study, reported by CNBC on Monday, looked at the 20 most valuable REIT-owned malls in the U.S. According to the report, the top 20 malls bring in roughly $21 billion in retail sales annually.
"We hope that investors get a more granular understanding of the inherent value in the mall sector," Boenning & Scattergood analyst Floris van Dijkum told CNBC.
Sawgrass Mills is among the largest malls in Southeast Florida with 350 stores, two food courts and 14 full-service restaurants.
Total S. Fla. employment
| Rank | Prior Rank | Business name |
|---|---|---|
1 | 1 | Publix Super Markets |
2 | 2 | Baptist Health South Florida |
3 | 3 | University of Miami |
