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Co-owner of busy shopping center plans upgrades, new stores

The Avenue Viera The Avenue Viera, a shopping center in the fast-growing master-planned community of Viera, has a new co-owner with plans to reinvest in the property. (WINSHIP PHOTOGRAPH)

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

The new co-owners of a Space Coast shopping center plan to reinvest in the property -- with new tenants on the way.

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Chestnut Hill, Massachusetts-based WS Development bought partial ownership of The Avenue Viera in May, giving it shared ownership of the 600,000-square-foot property with Newark, New Jersey-based PGIM Real Estate.

With the acquired ownership stake, financial terms of which were not disclosed, WS Development also is responsible for managing, leasing and marketing the 62-acre lifestyle retail center, which has more than 80 tenants supporting 1,300 employees.

Click here to read the full story on the Orlando Business Journal’s website.

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