EDENS Becomes Dominant Owner Of Open Air Centers In Miami MSA

MIAMI, Dec. 31, 2012 /PRNewswire/ -- EDENS, one of the nation's leading retail real estate owners and developers, announced today that it has acquired Fifth & Alton, a landmark retail property located at the gateway to South Beach in Miami, FL.  Its incomparable location, award-winning design and strong retailer performance make it one of the pre-eminent retail properties in South Florida.

(Photo:  http://photos.prnewswire.com/prnh/20121231/NY35154 )

Fifth & Alton is a multi-level, vertical retail project that comprises approximately 180,000 square feet. It is anchored by national retail tenants:  Publix, Best Buy, Staples, TJ Maxx and Ross Dress for Less. In addition to the anchor tenants, the property also offers a street level experience and is lined along Fifth Street with retailers including: Vitamin Shoppe, Petco, Brooklyn Water Bagel, Subway, Zilbert Realty, Pizza Fusion, Red Mango and Total Bank.  Fifth & Alton was acquired from affiliates of Robert Potamkin, Alan Potamkin and Jeff Berkowitz and was developed by Berkowitz Development Group.

With Fifth & Alton, Edens owns 20 properties throughout Florida,13 of which are located in South Florida making EDENS a dominant owner of open-air centers in the Miami MSA.  Over the last 24 months, EDENS has acquired 6 assets in Miami deploying close to $300M.

For more information on EDENS, please visit www.edens.com.

About EDENS:
EDENS develops, owns and operates community building centers in primary markets throughout the East Coast. Focusing on innovative development and redevelopment together with key acquisitions in urban areas, the Company has built an institutional-quality portfolio of 111 retail centers. EDENS has Regional Headquarters in Boston, New York, Washington D.C., Atlanta, Miami and Columbia, SC. For additional information about the Company and its retail real estate portfolio, please visit www.edens.com.

SOURCE EDENS