Fort Lauderdale, Fla. — GFO Investments and InSite Group, in partnership with Atlas Real Estate and Prime Finance, have acquired The Galleria at Fort Lauderdale, with plans to redevelop the 800,000-square-foot mall. Robert Given, Brad Capas and Casey Rosen of CBRE represented the seller, Keystone-Florida Holding Corp., in the transaction. The sales price was not disclosed. GFO and InSite Group will oversee redevelopment efforts, while Sandeep Mathrani of Atlas Hill Real Estate will lead leasing at the property.
Galleria Mall, an underperforming, super-regional shopping center, will be reimagined into a community-focused destination. Detailed plans for the redevelopment will be released in the coming months.
Keystone-Florida Holding Corp. originally listed the mall for sale in 2023. At the time, the center was only 67 percent occupied after losing anchor tenants such as Lord & Taylor, SAKS Fifth Avenue and Neiman Marcus, according to the South Florida Business Journal. Current tenants include Aldo Shoes, Apple, Blue Martini, H&M, Macy’s, Michael Kors, P.F. Chang’s, the Capital Grille and Zales.