Palm Beach Outlets

Off-market assemblage of a failed regional mall.

In 2011 Eastern acquired the components of a 1.2 million square foot enclosed mall along Interstate 95 in West Palm Beach, Florida. Eastern saw value in the location and the potential for a next generation retail destination. In partnership with New England Development, Eastern acquired the mall as well as the separately owned anchors, perfected the title, and secured permits for this 90-acre site.

In 2014, Palm Beach outlets opened as a 750,000 square foot shopping destination with over 130 stores and restaurants creating thousands of jobs in the region.

The partnership strategically sold the asset shortly after the ribbon cutting for $400 million, creating nearly $150 million in value.