Galleria Fort Lauderdale Redevelopment: GFO Investments Leads Major Mall Transformation

Galleria Fort Lauderdale redevelopment is underway after GFO Investments partnered with InSite Group, Atlas Hill Real Estate, and Prime Finance to acquire the iconic 800,000-square-foot indoor mall at 2414 East Sunrise Boulevard. The team plans a major mixed-use transformation of the struggling property, once home to luxury retailers.

Visit the City of Fort Lauderdale zoning page for details on current land use regulations.
For more on South Florida’s redevelopment trend, see The Real Deal’s mall redevelopment coverage.

Decline of the Galleria Mall

The Galleria, opened in 1980, lost key anchors such as Saks Fifth Avenue, Lord & Taylor, and Neiman Marcus. By 2023, it was only 67% occupied. The sale excluded the Dillard’s building (separately owned) and the Macy’s store under a ground lease.

South Florida’s Mall Redevelopment Boom

Developers are turning aging malls into vibrant hubs. In Cutler Bay, Electra America and BH Group are redeveloping the Southland Mall into the $1 billion Southplace City Center, which will feature apartments, condos, medical offices, retail, and a community amphitheater.

Previous Owner’s Failed Redevelopment Attempts

Keystone-Florida Holding Corporation bought the Galleria in 1993 for $25.1M but failed twice to gain approval for its mixed-use plans, including a 2022 proposal for 1,900 apartments. The site’s zoning allows 1,899 units with a height limit of 150 feet.

Redevelopment Leadership Team

• GFO Investments & InSite Group: Redevelopment strategy

• Atlas Hill Real Estate (led by Sandeep Mathrani): Operations & repositioning

• Prime Finance (led by John Atwater): Capital structuring

CBRE’s Robert Given and Brad Capas represented the seller, Keystone-Florida.

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