This week EDENS, one of the nation’s largest retail developers, bought the Fifth & Alton shopping center in South Beach from Jeff Berkowitz’ Berkowitz Development Group, which developed the property in 2009. “I am not typically a seller,” said Berkowitz who is president and founder of Berkowitz Development Group. “It was never [my idea] to sell the properties.” But the iron is hot to sell high-quality retail properties to institutional buyers and his partners, car dealership moguls Alan and Robert Potamkin, wanted to strike.
The multi-level shopping center won Urban Land Institutes Vision Award for 2010 and includes 180,000 square feet of retail tenants including Vitamin Shoppe, Best Buy, Publix, and others. It’s known as the entrance to South Beach, and is..