April 2, 2026 4:00 PM
Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark”) announces its Retail Capital Markets business has arranged the $210 million sale of the retail component of Miami Worldcenter, a newly constructed urban lifestyle center located at the epicenter of Downtown Miami’s transformative mixed-use district. The sale marks the largest non-mall retail transaction recorded in South Florida since 2017.
Newmark’s Head of Retail Capital Markets, North America Conor Lalor acted as strategic advisor to his longtime client CIM Group, while Senior Managing Director Eric Williams represented the seller, a joint venture led by CIM Group and Miami Worldcenter Associates, 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, ROK Acquisitions, Andrew Mirmelli, The Davis Companies and Jamestown.
“Miami Worldcenter represents one of the most significant retail investment opportunities ever brought to market in South Florida,” said Lalor. “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.”
Completed in 2024, the property’s retail component comprises 300,000 square feet of upscale retail within the development, which upon completion will include approximately 11,000 residential units, creating one of the most significant urban redevelopment projects in the United States.
“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.”
Anchored by a flagship Apple store, Miami Worldcenter features a roster of leading national and international retailers including Club Studio, Maple & Ash, Ray-Ban, Sephora, Lululemon, Lucky Strike and Museum of Ice Cream, among others. Newmark has played a long-standing role in the project’s evolution, including representing several tenants within the development.
Spanning roughly 10 blocks between NE 2nd Avenue and Miami Avenue, from NE 6th to NE 11th Streets in Downtown Miami, Miami Worldcenter 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 and serves a dense and rapidly expanding trade area with tens of thousands of residents, employees and visitors.
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.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly $3.3 billion. As of December 31, 2025, Newmark and its business partners together operated from approximately 175 offices with over 9,300 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
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[1] By sales price, according to Newmark Research and MSCA