Asana Partners acquires Red Bird Shopping Center in Miami for $62m

Asana Partners has acquired Red Bird Center, a 92,089 square-foot generational grocery-anchored retail center located in an affluent Miami submarket.

The Red Bird Center is located at 5761 Bird Road, at the intersection of Bird Road and Red Road. The upscale communities of Coral Gables and South Miami surround this location.

The retail center is 100 percent leased and anchored by Milam's Market, Walgreens, Orion Fuels and Ace Hardware, along with a diverse mix of national, regional and local tenants. The property features strong tenant stability, with a weighted average tenure of 31.2 years, and generates 1.5 million annual visits with 338,000 unique visitors.

JLL worked on behalf of the seller, Red Bird Associates.