Sunset West Shopping Center in the Glenvar Heights neighborhood of Miami-Dade County was purchased by Gazit Horizons for $16.95 million through a lease assignment.
The Dorothy W. Balzebre Trust and the Anthony F. Balzebre Trust, both with Robert P. Balzebre as trustee, sold the long-term ground lease on the 73,072-square-foot retail plaza at 7300 S.W. 87th Ave. with the assistance of IMA, who has managed and leased the property for decades on behalf of the Balzebre family.
The ground lease was set to expire in 2028 and has since been extended for 99 years, now lasting through 2125. Anchored by Aldi, the center is 100 percent leased.