MMG Equity Partners To Develop 36,000 SF Of Retail, 7 Outparcels Within 70-Acre Master Planned Community

MMG Equity Partners announced it is under contract to purchase the retail development site within Kendall Town Center, a 70-acre master-planned mixed-use project located at the intersection of North Kendall Drive (SW 88th Street) and Southwest 158th Avenue in West Kendall.

MMG Equity Partners plans to develop The Shops at Kendall Town Center, a 36,000-square-foot retail destination complemented by an additional 4,321 square feet of outdoor terrace space. Situated on 5.14 acres and positioned at the heart of the broader Kendall Town Center master plan, the project will serve as a central hub within the mixed-use community.

The firm expects to close on the acquisition by the end of 2026, with construction anticipated to begin in the first quarter of 2027. MMG Equity Partners has submitted plans to Miami-Dade County and is currently seeking administrative site plan approval.

“Kendall Town Center represents an exciting opportunity to introduce highly curated retail to this rapidly growing submarket,” said Marcos Puente, partner at MMG Equity Partners. “The team at NAI Miami has done an exceptional job bringing this master-planned community to life. We have commitments from and are seeking additional quality tenants and are focused on delivering a destination that brings together dining, entertainment, and community in a way that reflects the continued growth of West Kendall.”

The retail component will be anchored by food and beverage offerings, with approximately half of the space dedicated to restaurants. The project is centered around Town Center Mall, an open-air courtyard with a curated garden along Town Center Drive, creating a natural gathering place that enhances connectivity across the development and activates the surrounding retail environment.

MMG Equity Partners is currently negotiating letters of intent and leases, with asking rents ranging from $65 to $70 per square foot. Leasing is being led by Ed Schmidt and Robert Eckstein of NAI Miami/Ft. Lauderdale.

The broader Kendall Town Center master plan continues to gain momentum. Baptist Health South Florida recently acquired 17.9 acres adjacent to the existing hospital for a planned health and wellness district which will include 215,000 SF of medical offices, 70,000 SF of education, and 125 hotel rooms. Trammell Crow Residential is developing Alexan Kendall, a 576-unit rental community, with its first phase already delivered, while AvalonBay is constructing an additional 224-unit residential community.  Together with another planned project, KTC will have over 1,000 residential units at completion.

Signed out-parcel tenants currently include Raising Cane’s, El Car Wash, and Chase Bank. A four-story, 128,000-square-foot self-storage facility is also planned along the west side of Southwest 158th Avenue, just south of Kendall Drive. In addition, Aztec Group has proposed a 62-townhome community on the east side of SW 167th Avenue, just north of Kendall Drive.