Newmark Arranges $210 Million Sale Of Trophy Worldcenter Retail In Downtown Miami
The sale marks the largest non-mall retail transaction recorded in South Florida since 2017.
The sale marks the largest non-mall retail transaction recorded in South Florida since 2017.
The sale price equates to more than $410 per square foot.
The deal represents a significant expansion from Terrabank’s previous 27,068-square-foot office on Coral Way.
The triple net lease is for 11,000 square feet.
The Florida City property is a fully leased multi-tenant retail center anchoring a mix of service-oriented businesses.
The mixed-use building is now fully leased.
CBRE’s Amy Julian and Andrew Chilgren represented the owner, WMP I LLC, in the transaction.
The development is planned to include thousands of affordable and workforce housing units, several hundred thousand square feet of retail and office uses, and medical and institutional uses, with an economic impact in the billions of dollars.
The transaction was brokered by Devlin Marinoff and Tony Arellano of Dwntwn Realty Advisors.
Rotella Group’s Steve Miller represented Skechers in the transaction.
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