SG Holdings Fully Leases Mixed-Use Development Set To Open In Miami’s Overtown

The transformative development Sawyer’s Walk comprising 1.5 million square feet is now fully committed and considered the largest mixed-use project set to deliver in decades in the historic community of Overtown in Miami.

The project will add 175,000 square feet for credit retailers, 578 housing units for predominantly low-income seniors helping to meet the critical need for affordable housing in Miami-Dade County, and 130,000 square feet of office space acquired by MSC Group that will anchor MSC Cruises new North American headquarters.

SG Holdings, a partnership among Swerdlow Group, SJM Partners, and Alben Duffie, is constructing the 3.4-acre development located at 249 NW 6th St., which broke ground in June 2021. The successful public-private partnership was made possible through a collaboration with the City of Miami’s Southeast Overtown/Park West Community Redevelopment Agency (CRA), Miami-Dade County’s Department of Public Housing and Community Development (PHCD), and Commissioners Christine King and Keon Hardemon. The development was designed by Miami-based, award-winning architecture firm Arquitectonica and construction is led by Coastal Construction.

With completion estimated for this summer, Sawyer’s Walk will create a new mixed-use destination with a variety of highly demanded retailers such as Target, Aldi, Ross and Burlington, the largest affordable senior living community to deliver in the US in the last 10 years, and a 25,000-square-foot public plaza that will feature a pedestrian promenade with outdoor seating and children’s playground benefitting the Overtown community and Greater Downtown Miami.

“Since we broke ground on Sawyer’s Walk in 2021, we have experienced overwhelming demand for the mix of uses the development will bring to Miami’s Overtown community, including affordable housing for seniors, value-add retail offerings and quality office space, leading to our project reaching 100% leased before completion,” said Michael Swerdlow, Managing Partner of Swerdlow Group. “The anticipated delivery of our mixed-use development will serve as an economic catalyst for Overtown, with the creation of over one thousand quality jobs, the opening of a new full-service supermarket and mix of national retail stores that will serve the immediate community and surrounding neighborhoods.”

MSC Group, a privately owned international company that is a global leader in container shipping and has the world’s third largest cruise line, will bring together its South Florida cruise and cargo operations under one home within Sawyer’s Walk. The modern office space purchased by MSC Group will bring together over 250 current employees based in South Florida from MSC Cargo, MSC Cruises and Explora Journeys. With this move, the global organization is making a $100 million investment in Miami-Dade and is expected to generate over 600 direct and indirect jobs over the next three years, as MSC Cruises prepares to open North America’s largest cruise terminal in PortMiami later this year.

“The relocation of the MSC Cruises North American headquarters to Sawyer’s Walk will significantly contribute to the daytime population that the shops and restaurants will serve,” said Nick Swerdlow, Vice President of Swerdlow Group. “The opening of our Sawyer’s Walk development coincides with the continued growth Greater Downtown Miami is benefitting from as more new residents, businesses and visitors are attracted to Miami’s thriving urban core.”

The upper floors of Sawyer’s Walk will be home to 578 units designated for seniors earning at or below an average of 60 percent of the Area Median Income. The apartments will include studios, one-bedrooms, and two-bedrooms. Residents will enjoy resort-like amenities that exceed what is traditionally offered at affordable housing projects, including a roof-top swimming pool and sun deck complete with lush landscaping, outdoor seating and grilling stations, a modern fitness center, clubhouse, and more.

The retail component will include a 50,000-square-foot Target store, a 25,000-square-foot Aldi supermarket, and new locations for Ross Dress for Less, Five Below, Burlington and Tropical Smoothie Cafe. The public plaza will also feature art murals, an outdoor seating area and a dog park. The property will provide over 1,000 parking spaces and access to numerous public transit options such as the Metrorail, Metromover and Brightline.

Situated in the heart of Overtown, one of Miami’s most historic communities, Sawyer’s Walk is located alongside I-95, adjacent to Downtown Miami’s Central Business District and blocks from Brightline’s Miami Central station, the 27-acre destination Miami Worldcenter, the Historic Lyric Theatre, Government Center, and Miami Dade College’s Wolfson Campus.

The Cushman & Wakefield team of Alan Kleber, Tyler Reynolds, Scott Quick, Diego Rodino di Miglione, and Shannon O’Hare represented MSC Group in the transaction, while Greg Masin of Cushman & Wakefield advised SG Holdings.