JV Involving Russell Galbut’s GFO Investments Acquires Fort Lauderdale’s Galleria Mall

GFO Investments and InSite Group, in partnership with Atlas Hill Real Estate and Prime Finance, announced they have completed the acquisition of Fort Lauderdale’s Galleria Mall, marking the start of a transformative chapter for the city’s most iconic shopping and dining destination.

The 800,000-square-foot indoor mall is located at 2414 East Sunrise Boulevard.

The locally based teams plan to reimagine the property as a vibrant hub of retail, culture, and community. Guided by a commitment to local engagement and economic growth, the partners aim to create a destination that serves the community while attracting visitors from across South Florida.

“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.”

Since opening in the early 1980s, the Galleria has served as a central destination for shopping, dining, and entertainment, drawing visitors from across South Florida. Its prime East Sunrise Boulevard location, with nearby waterways and easy access to downtown Fort Lauderdale and the beaches, provides a strong foundation for a revitalization that celebrates both Fort Lauderdale’s heritage and its evolving urban landscape.

The acquisition represents a unique collaboration combining local vision with national retail expertise. GFO and InSite will oversee the redevelopment of the asset, while Atlas Hill Real Estate’s Sandeep Mathrani brings extensive experience in operations and repositioning of landmark retail destinations across the country.

“The Galleria Mall is an integral part of Fort Lauderdale’s retail scene,” said Sandeep 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 plans will be unveiled in the coming months, with a vision centered on a community-focused revitalization that elevates Fort Lauderdale’s shopping, lifestyle, and cultural offerings, featuring some of the most recognized household names in the industry.

“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, a Principal at Prime Finance. “We are thrilled to partner with Russell, Ben, Sandeep, and their terrific teams in this exciting endeavor.”

Robert Given, Brad Capas, and Casey Rosen of CBRE Group, Inc. exclusively represented the seller in this transaction. Given specializes in institutional multifamily sales, land development sales, structured equity finance and private capital sales throughout the State of Florida and has participated in more than 1,000 investment sales in excess of $70 billion.