Newmark Arranges Sale Of Wynwood Jungle, Landmark Retail Destination In Miami’s Wynwood Arts District

Newmark has arranged the $25.73 million sale of Wynwood Jungle, a 38,946-square-foot retail property located in the heart of Miami’s internationally recognized Wynwood Arts District.

Senior Managing Director Eric Williams represented the seller, Robert Rivani, in the transaction. President and Head of Retail Capital Markets Conor Lalor, Director James Sharpe V and Associate Director Andrei Larion, also advised the seller.

Occupying a prominent 0.7-acre block-through site spanning an entire city block from Northwest 23rd Street to Northwest 24th Street between Northwest 2nd Avenue and North Miami Avenue, Wynwood Jungle is one of the neighborhood’s most visible and recognizable retail destinations. Originally completed in 2016, the property was substantially renovated and repositioned in 2023 with more than $1 million in capital improvements, including upgrades to common areas and façade enhancements, the addition of outdoor dining spaces and rooftop restaurant activation.

“Wynwood Jungle represents a highly compelling opportunity to acquire a strategically located retail asset in one of the country’s most dynamic urban neighborhoods,” said Williams. “The property combines strong existing tenancy, significant mark-to-market opportunities and meaningful future densification potential, all within a submarket that continues to benefit from substantial institutional investment and population growth.”

The property is leased to a diverse roster of food-and-beverage, hospitality and lifestyle tenants, including The Salty, Sora, Surinitea, Häagen-Dazs and 27 Club Coffee. New ownership will have the opportunity to capitalize on active leasing momentum and lease-up of turnkey second-generation restaurant spaces, creating a clear pathway to significant net operating income growth.

The offering also includes substantial future development potential. Existing zoning permits the potential development of up to 116 residential units or 234 lodging units, with additional density available through Florida’s Live Local Act.

Wynwood has emerged as one of South Florida’s most sought-after mixed-use districts, welcoming approximately 20 million visitors in 2025 alone. The neighborhood has experienced significant residential growth, with more than 3,000 residential units delivered since 2022 and an additional 4,000 units expected through 2028. Recent transformative investments include the acquisition of the 545 Wyn office building by Citadel founder Ken Griffin and plans for the redevelopment of the 45-acre Mana Convention Center site.

The property benefits from immediate proximity to many of Wynwood’s most popular destinations, including 1-800-Lucky, Mayami, El Patio, Oasis Wynwood and La Sandwicherie, further reinforcing its position as a premier retail and entertainment destination within the neighborhood.