Newmark Group, Inc. acted as the broker for a $210 million transaction that transferred the retail component of the Miami Worldcenter development to a consortium of institutional investors. The asset, located in downtown Miami, covers roughly 272,966 square feet and was completed in 2024, with the retail space opening to tenants in early 2025.
The sale marks the largest non‑mall retail transaction in South Florida since 2017. The seller was a joint venture between CIM Group and Park West Ventures, while the buyer consortium consists of Falcone Group, The Davis Companies, Jamestown, ROK Acquisitions, and Andrew Mirmelli. Newmark’s Head of Retail Capital Markets for North America, Conor Lalor, served as strategic advisor to the seller; Senior Managing Director Eric Williams represented the seller side, and Co‑Head of U.S. Capital Markets Adam Spies represented the buyers.
Conor Lalor said the deal demonstrates the continued strength of the retail market in dynamic urban districts, noting that “institutional investors continue to target large, irreplaceable retail assets located in dynamic urban districts, and Miami Worldcenter stands at the center of one of the fastest‑growing downtown markets in the country.” Eric Williams added that the transaction “reflects both the depth of capital targeting high‑performing retail and the increasing velocity of large‑scale trades as conviction returns to the market.”
For Newmark, the transaction adds a high‑profile, 272,966‑square‑foot retail asset to its portfolio and underscores the firm’s ability to execute large‑scale deals in key growth markets. The sale comes amid a broader rebound in commercial real‑estate investment activity, with Newmark reporting double‑digit revenue growth in 2025 and projecting continued expansion in 2026.
Analysts view the transaction as a sign of renewed confidence in South Florida’s retail sector. The deal’s size and the involvement of a diversified buyer consortium suggest that institutional appetite for premium urban retail assets remains robust, reinforcing Newmark’s position as a leading broker in the region.
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