GFO Investments and InSite Group, in partnership with Atlas Hill Real Estate and Prime Finance, have completed the acquisition of Fort Lauderdale’s Galleria Mall, marking the beginning of a major transformation for one of the city’s most recognizable retail and dining destinations.
The new ownership team, all with deep ties to South Florida, intends to reimagine the mall as a hub of shopping, culture, and community gathering. Plans will emphasize local engagement while introducing new retail and lifestyle experiences intended to attract both residents and visitors from across the region.
“The Galleria Mall has long been a landmark in Fort Lauderdale, and now we have an opportunity to reimagine it for a new generation,” said Ben Shmul, Founder of InSite Group. “We look forward to delivering a vibrant, accessible space that will serve the community for decades to come.”
“Our vision is to restore the Galleria as the premier shopping and lifestyle destination for Broward County,” said Russell Galbut, Founder of GFO Investments. “It will be a place where people can gather, shop, and experience Fort Lauderdale’s diverse and creative energy.”
Originally opening in the early 1980s, the Galleria Mall has functioned as a regional retail anchor, drawing visitors with shopping, dining, and entertainment. Its position along East Sunrise Boulevard, close to the Intracoastal Waterway, downtown Fort Lauderdale, and the beaches, provides a strong base for a large-scale repositioning effort that will balance historic significance with contemporary urban demand.
The partnership brings together local ownership with national retail expertise. GFO Investments and InSite Group will lead redevelopment efforts, while Atlas Hill Real Estate’s Sandeep Mathrani adds experience from overseeing and repositioning major retail properties nationwide.
“The Galleria Mall is an integral part of Fort Lauderdale’s retail scene,” said Mathrani, Founder and Managing Partner of Atlas Hill Real Estate. “With its distinguished location and rich history, we have a rare chance to create a modern destination that celebrates its legacy while introducing new experiences for both residents and visitors.”
Detailed redevelopment plans are expected to be released in the coming months, with a focus on community-driven activation, updated retail programming, and household-name tenants.
“The attractive real estate fundamentals of the trade area combined with the experience and capabilities of this accomplished sponsorship group create a uniquely compelling opportunity to reposition this important property,” said Seth Fisher, Principal at Prime Finance. “We are thrilled to partner with Russell, Ben, Sandeep, and their terrific teams in this exciting endeavor.”
CBRE’s Robert Given, Brad Capas, and Casey Rosen represented the seller in the transaction. Given, a Vice Chairman, specializes in institutional multifamily sales, land and development transactions, structured equity finance, and private capital sales throughout Florida, and has participated in over 1,000 investment sales exceeding $70 billion.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Wow, it’s about time. Wondering why the City rejected the last developer’s efforts to add housing and redevelop the mall? This place has so much potential. Wishing this team much luck and looking forward to seeing their plans and implementation. The wealth in the area can support an amazing development and Ft. Lauderdale could use a boost of good retail to compete with Aventura Mall to the South and Boca Mall to the North.
If you are referring to the proposal from about ten years ago, the City rightfully rejected that jumbled mess. However the mall is planned to be redeveloped, I’d like to see it still retain the old money feel, more like the Houston Galleria meets Gilded Age hotel, and not be another Brickell City Center. This includes drawing quality tenants from River Market.
As an East Sunrise Blvd resident, since 1981 and a former owner of 2 successful stores, in the mall, I am excited to see faith in the neighborhood and location restored. The enthusiasm in the process is heartening. It is a gem of a location and local residential building is burgeoning. Hopefully, the marketing plans will be competitive with on-line competition, which has manifested a lot of this mall’s problems, with attracting younger clientele.
Reds redevelopment. Remember Ft. Lauderdale we hold the card. Work a deal to get green space for public incorporated in project,,, why? Because it can and will create a more neighborly city. Is there upkeep yes. But positives out way the negative. Good luck