{"id":1004051810,"date":"2012-06-01T07:56:01","date_gmt":"2012-06-01T15:56:01","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=50583"},"modified":"2020-04-08T04:52:43","modified_gmt":"2020-04-08T12:52:43","slug":"magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\/","title":{"rendered":"\u2018Magic\u2019 Johnson, Canyon Partners Return to Miami with Plans for New Walmart-Anchored Center"},"content":{"rendered":"

By Georgiana Mihaila, Associate Editor\"\"<\/a><\/em><\/p>\n

Miami\u2019s Flagler Corridor will soon have a new Walmart-anchored shopping center, as Canyon-Johnson Urban Funds has recently purchased a 32-acre parcel in this respect in an all-cash transaction. The property, the site of a former golf course, enjoys an unusually high amount of frontage on the main thoroughfare of West Flagler Street at the intersection of SW 92nd Avenue.<\/p>\n

The site is located in the heart of a diverse neighborhood with extremely high density. Nearly 400,000 residents live within five miles of the site, and more than 250,000 employees work within the same radius.<\/p>\n

\u201cCanyon-Johnson is focused on creating job opportunities and revitalizing urban America,\u201d said Canyon-Johnson partner, Earvin \u201cMagic\u201d Johnson. \u201cWe are thrilled to be back in Miami and to breathe new life into a piece of land that has been under-utilized for too long.\u201d<\/p>\n

Canyon-Johnson Urban Funds plans to develop a 235,000-square-foot neighborhood shopping center on the Flagler site, anchored by a Walmart supercenter with full-service grocery and general merchandise.. Dubbed Fontainebleau Park Plaza, the project has also drawn many other national and local retailers that have shown significant interest in the remaining available space.<\/p>\n

With construction set to start in the second half of 2012, leasing assignments have been awarded to Rod Castan at the Courtelis Company.<\/p>\n

The Canyon-Johnson Urban Fund is one of the country\u2019s largest private real estate funds, focused on the development of urban properties in under-served neighborhoods. With nearly $2 billion in committed equity capital, the funds are positioned to facilitate more than $8 billion in development and revitalization in major U.S. metropolitan areas.<\/p>\n

For more market data on Miami,\u00a0click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Miami’s Flagler Corridor will soon have a new Walmart-anchored shopping center, as Canyon-Johnson Urban Funds has recently purchased a 32-acre parcel in this respect in an all-cash transaction.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1492,21742],"tags":[],"class_list":["post-1004051810","post","type-post","status-publish","format-standard","hentry","category-miami","category-latest"],"acf":[],"yoast_head":"\n\u2018Magic\u2019 Johnson, Canyon Partners Return to Miami with Plans for New Walmart-Anchored Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Magic\u2019 Johnson, Canyon Partners Return to Miami with Plans for New Walmart-Anchored Center\" \/>\n<meta property=\"og:description\" content=\"Miami’s Flagler Corridor will soon have a new Walmart-anchored shopping center, as Canyon-Johnson Urban Funds has recently purchased a 32-acre parcel in this respect in an all-cash transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-06-01T15:56:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-08T12:52:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/Walmart_Store.jpg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\\\/\"},\"author\":{\"name\":\"the Editors of Commercial Property Executive\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1b82b91678533ae5d40e3240086a42bb\"},\"headline\":\"\u2018Magic\u2019 Johnson, Canyon Partners Return to Miami with Plans for New Walmart-Anchored Center\",\"datePublished\":\"2012-06-01T15:56:01+00:00\",\"dateModified\":\"2020-04-08T12:52:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\\\/\"},\"wordCount\":285,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/06\\\/Walmart_Store.jpg\",\"articleSection\":[\"Miami\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/magic-johnson-canyon-partners-return-to-miami-with-plans-for-new-walmart-anchored-center\\\/\",\"name\":\"\u2018Magic\u2019 Johnson, Canyon Partners Return to Miami with Plans for New Walmart-Anchored Center - 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