The retail component of Miami Worldcenter has sold for $210 million, marking the largest non-mall retail transaction recorded in South Florida since 2017. Newmark Group arranged the sale of the newly constructed urban lifestyle center located at 1010 NE 2nd Avenue in Downtown Miami. The transaction was completed with Conor Lalor, Head of Retail Capital Markets, North America, serving as strategic advisor to CIM Group, while Senior Managing Director Eric Williams represented the seller.
“Miami Worldcenter represents one of the most significant retail investment opportunities ever brought to market in South Florida,” said Lalor. The seller was a joint venture led by CIM Group and Park West Ventures, the master developer of the $6 billion Miami Worldcenter project, along with Co-Head of U.S. Capital Markets Adam Spies. The buyer is a joint venture between Falcone Group, The Davis Companies and Jamestown.
“Assets of this scale and quality continue to command outsized interest from institutional buyers,” said Williams. “This 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.” The property comprises approximately 272,966 square feet of upscale retail within the development, which was completed in 2024.
“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,” said Lalor. The development sits adjacent to the Kaseya Center, home of the Miami Heat, and within blocks of major economic and cultural drivers including Brightline’s MiamiCentral station, PortMiami, the Adrienne Arsht Center for the Performing Arts and the Frost Museum of Science. The district benefits from immediate connectivity to Interstates 95 and 395.
The retail center is anchored by a flagship Apple store and features leading national and international retailers including Club Studio, Maple & Ash, Ray-Ban, Sephora, Lululemon, Lucky Strike and Museum of Ice Cream. Upon completion, Miami Worldcenter will include approximately 12,000 residential units, more than 600,000 square feet of office space and 850 hotel rooms, creating one of the most significant urban redevelopment projects in the United States. Newmark has played a long-standing role in the project’s evolution, including representing several tenants within the development.
According to Newmark Research, U.S. commercial real estate investment sales activity increased approximately 20% year-over-year in 2025, with larger transactions beginning to regain share as institutional capital returns to the market. Improved price discovery, stabilized interest rates and continued demand for high-quality assets have supported a rebound in transaction velocity, particularly for well-leased, newly constructed retail properties in major gateway markets. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly $3.3 billion.