{"id":1004794208,"date":"2026-04-03T01:57:59","date_gmt":"2026-04-03T09:57:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004794208"},"modified":"2026-04-08T01:43:04","modified_gmt":"2026-04-08T09:43:04","slug":"6b-miami-project-sees-retail-district-change-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/6b-miami-project-sees-retail-district-change-hands\/","title":{"rendered":"$6B Miami Worldcenter Sees Retail Change Hands"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Miami-Worldcenter.jpeg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"599\" data-attachment-id=\"1004794212\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/6b-miami-project-sees-retail-district-change-hands\/miami-worldcenter-4\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Miami-Worldcenter.jpeg\" data-orig-size=\"800,599\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Miami Worldcenter\" data-image-description=\"&lt;p&gt;Image provided by Gail Kalinoski via email&lt;\/p&gt;\n\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Miami-Worldcenter.jpeg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Miami-Worldcenter.jpeg\" alt=\"aerial view of a retail corridor at Miami Worldcenter\" class=\"wp-image-1004794212\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Miami-Worldcenter.jpeg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Miami-Worldcenter.jpeg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Miami-Worldcenter.jpeg?resize=768,575 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">The retail component of Miami Worldcenter also includes dining and entertainment space. <em>Image courtesy of Miami Worldcenter Associates<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Falcone Group\u2014in partnership with ROK Acquisitions, Andrew Mirmelli, The Davis Cos. and Jamestown\u2014has acquired the retail component of the $6 billion Miami Worldcenter master-planned district. Miami Worldcenter Associates sold it for $210 million.<\/p>\n\n\n\n<p>Falcone Group, one of the founding partners of Miami Worldcenter Associates along with CIM Group and Managing Partner Nitin Motwani, will retain a majority stake in the downtown Miami retail collection. Under the new ownership structure, Falcone Group will serve as general partner and run day-to-day operations. ROK Acquisitions, Andrew Mirmelli, Davis and Jamestown will be limited partners.<\/p>\n\n\n\n<p>The deal marks the largest non-mall <a href=\"https:\/\/www.commercialsearch.com\/news\/core-buys-south-florida-area-retail-asset\/\">retail transaction in South Florida<\/a> since 2017. It includes 300,000 square feet of retail, dining and entertainment space; approximately 2,000 parking spaces; and 100,000 square feet of public parks and plazas.<\/p>\n\n\n\n<p>Newmark\u2019s Retail Capital Markets business arranged the deal. Conor Lalor, head of retail capital markets, North America, acted as strategic advisor to his longtime client CIM Group. Senior Managing Director Eric Williams and Adam Spies, co-head of U.S. capital markets, represented the seller. <\/p>\n\n\n\n<div class=\"wp-block-group cmw-cpe-newsletter\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group cmw-cpe-newsletter-content\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group cmw-cpe-newsletter-content-text\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading\" id=\"h-cpe-daily-newsletter\">CPE Daily Newsletter<\/h2>\n\n\n\n<p>Every weekday, every important CRE story.<\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<form class=\"cmw-inline-newsletter\" action=\"https:\/\/whatcounts.com\/bin\/listctrl\" method=\"POST\">\n  <input type=\"hidden\" name=\"slid\" value=\"5C84B893BD6D939E8970225E75BA5E55\" \/>\n  <input type=\"hidden\" name=\"cmd\" value=\"subscribe\" \/>\n  <input type=\"hidden\" name=\"wxuiversionfirst\" value=\"\" \/>\n \n  <input type=\"hidden\" name=\"errors_to\" value=\"\" \/>\n\n  <label class=\"sr-only\" for=\"email\">Email<\/label>\n  <input type=\"email\" id=\"email\" name=\"email\" required maxlength=\"65\"\n         placeholder=\"Your email address\"\n         oninvalid=\"this.setCustomValidity('Please enter a valid email address')\"\n         oninput=\"this.setCustomValidity('')\"\/>\n\n  <button type=\"submit\">SUBSCRIBE<\/button>\n<\/form>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-miami-top-project\">Miami top project<\/h2>\n\n\n\n<p>The deal also comes nearly a year after the official opening of the 27-acre, 10-block master-planned property. The mixed-use campus, one of the largest <a href=\"https:\/\/www.commercialsearch.com\/news\/top-projects-that-will-reshape-miami\/\">development projects in Miami<\/a>, will also include more than 600,000 square feet of office space, 850 hotel keys and approximately 12,000 residential units when completed. It\u2019s the second-largest such project in the U.S.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Art-Falcone.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004794219\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/art-falcone-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Art-Falcone-edited.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Art Falcone\" data-image-description=\"&lt;p&gt;Image provided by Gail Kalinoski via email&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Art Falcone&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Art-Falcone-edited.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Art-Falcone-edited.jpg\" alt=\"headshot of Art Falcone\" class=\"wp-image-1004794219\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Art-Falcone-edited.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Art-Falcone-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Art-Falcone-edited.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Art-Falcone-edited.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption class=\"wp-element-caption\">Art Falcone, CEO of Falcone Group. <em>Image courtesy of Falcone Group<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>\u201cWe\u2019ve established a strong foundation with the retail, dining and entertainment mix, and this next phase is focused on building on that momentum\u2014introducing new concepts and expanding programming that keeps the district active throughout the day and into the evening,\u201d Art Falcone, CEO of Falcone Group, told <em>Commercial Property Executive<\/em>. \u201cWith new partners bringing additional institutional expertise, we\u2019re well positioned to continue elevating the experience while remaining thoughtful about how the district evolves.\u201d<\/p>\n\n\n\n<p>Jerry Murphy, managing director at Davis, said in a prepared statement the partnership with Falcone and Jamestown will unlock potential for the site\u2019s retail components as it enters its next chapter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-closer-look\">A closer look<\/h2>\n\n\n\n<p>The first phase of retail development came online and opened in early 2025. It is anchored by a flagship Apple store at 100 NE Eighth St. Other leading national and international brands include Sephora, Lululemon, Ray-Ban, Lucid Motors, Free People, Savage X Fenty, Posman Books, HYP Sneakers &amp; Streetwear, Timeluxe, Openbank by Santander, SkinSpirit, Blo Blow Dry Bar and Club Studio.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Apple-store-at-Miami-Worldcenter.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004794214\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/6b-miami-project-sees-retail-district-change-hands\/apple-store-at-miami-worldcenter\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Apple-store-at-Miami-Worldcenter.jpg\" data-orig-size=\"1349,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Apple store at Miami Worldcenter\" data-image-description=\"&lt;p&gt;Image provided by Gail Kalinoski via email&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Apple store at Miami Worldcenter anchors the property. Image courtesy of CIM Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Apple-store-at-Miami-Worldcenter.jpg?w=1024\" height=\"683\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Apple-store-at-Miami-Worldcenter.jpg?w=1024\" alt=\"exterior shot of the Apple store at Miami Worldcenter\" class=\"wp-image-1004794214\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Apple-store-at-Miami-Worldcenter.jpg 1349w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Apple-store-at-Miami-Worldcenter.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Apple-store-at-Miami-Worldcenter.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Apple-store-at-Miami-Worldcenter.jpg?resize=1024,683 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">An Apple store anchors the first phase of Miami Worldcenter&#8217;s retail development.<em> Image courtesy of CIM Group<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Food and beverage offerings include Maple &amp; Ash, Eight Bar, Sixty Vines, Earls Kitchen + Bar, Sweet Paris Creperie &amp; Caf\u00e9, Starbucks, Serafina and Go Greek Yogurt. Entertainment destinations include Lucky Strike Bowling and the Museum of Ice Cream.<\/p>\n\n\n\n<p>The 351-key citizenM Miami Worldcenter hotel is open, with additional hospitality concepts set to debut in future phases. Several residential towers have also been completed by developers such as Related Group, Naftali Group, Witkoff, Adam Neumann\u2019s Flow, Merrimac Ventures, Aria Development, Lalezarian Properties, Abbhi Capital, Lynd Group and Falcone Group.<\/p>\n\n\n\n<p>The mixed-use district is also a transit-oriented development. It is located adjacent to Brightline\u2019s MiamiCentral Station and also connected to Tri-Rail, Metrorail, Metromover and the Brickell\/Biscayne trolley systems.<\/p>\n\n\n\n<p>Falcone told <em>CPE<\/em> Miami Worldcenter has played a significant role in reshaping downtown Miami\u2014transforming underutilized land into a vibrant, walkable district at the crossroads of Interstate 395 and Biscayne Boulevard.<\/p>\n\n\n\n<p>\u201cSurrounded by major destinations including the Kaseya Center\u2014home to the Miami Heat\u2014the Adrienne Arsht Center for the Performing Arts, Perez Art Museum Miami, Frost Science Museum, Government Center, Brightline and PortMiami, it has become a true center of gravity for the city. As downtown continues to grow, we see it remaining a central hub and a key driver of the area\u2019s evolution,\u201d he said.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-s-next-for-miami-worldcenter-retail\">What&#8217;s next for Miami Worldcenter retail?<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Stephanie-Toothaker.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004794222\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/6b-miami-project-sees-retail-district-change-hands\/stephanie-toothaker\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Stephanie-Toothaker.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1771954116&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Stephanie Toothaker\" data-image-description=\"&lt;p&gt;Image provided by Gail Kalinoski via email&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Stephanie Toothaker&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Stephanie-Toothaker.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Stephanie-Toothaker.jpg\" alt=\"photo of Stephanie Toothaker\" class=\"wp-image-1004794222\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Stephanie-Toothaker.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Stephanie-Toothaker.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Stephanie-Toothaker.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Stephanie-Toothaker.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption class=\"wp-element-caption\">Stephanie Toothaker, development strategist and president &amp; chairwoman of Toothaker.org.<\/figcaption><\/figure><\/div>\n\n\n<p>Stephanie Toothaker, a Fort Lauderdale, Fla.,-based&nbsp;development strategist and president &amp; chairwoman of Toothaker.org, said the new ownership group will be focused on strategic refinement.<\/p>\n\n\n\n<p>\u201cThat means merchandising, programming and activating the space in a way that keeps it relevant to both residents and visitors,\u201d she said. \u201cThe groups that succeed will treat retail as something that needs to be actively managed and evolve, which includes active programming and community engagement.\u201d<\/p>\n\n\n\n<p>Toothaker also noted Miami has shifted fundamentally from being just a tourism-led city to a resident-driven community, especially in downtown Miami. She called Miami Worldcenter a clear example of how to create a retail environment that actually performs over time from both a development and planning standpoint.<\/p>\n\n\n\n<p>\u201cThe integration of residential density, transit, and entertainment is not accidental; it is what allows retail to function as part of a daily ecosystem rather than a one-time destination,\u201d she said. \u201cThis process takes time, but when developers create with intention and the future in mind, success follows.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal involves the second-largest urban mixed-use development in the U.S.<\/p>\n","protected":false},"author":1068,"featured_media":1004794212,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,1492,21752,21742,21749,32781],"tags":[33194,51748,50999,41783,35120],"class_list":["post-1004794208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-miami","category-mixed-use","category-latest","category-retail","category-southeast","tag-cim-group","tag-jamestown","tag-newmark","tag-nitin-motwani","tag-the-davis-companies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$6B Miami Worldcenter Sees Retail Change Hands - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"A joint venture led by Falcone Group acquired the retail component of Miami Worldcenter, the $6 billion mixed-use district in downtown Miami.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/6b-miami-project-sees-retail-district-change-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$6B Miami Worldcenter Sees Retail Change Hands\" \/>\n<meta property=\"og:description\" content=\"A joint venture led by Falcone Group acquired the retail component of Miami Worldcenter, the $6 billion mixed-use district in downtown Miami.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/6b-miami-project-sees-retail-district-change-hands\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-03T09:57:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-08T09:43:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/Miami-Worldcenter.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"599\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/6b-miami-project-sees-retail-district-change-hands\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/6b-miami-project-sees-retail-district-change-hands\/\",\"name\":\"$6B Miami Worldcenter Sees Retail Change Hands - 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