Business
Newmark Arranges $210 Million Sale of Trophy Worldcenter Retail in Downtown Miami
Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark") announces its Retail Capital Markets business has arranged the $210 million sale of the retail component of Miami Worldcenter, a newly constructed urban lifestyle center located at the epicenter of Downtown Miami's transformative mixed-use district. The sale marks the largest non-mall retail transaction recorded in South Florida since 2017.
About this update from Newmark Group, Inc.
[{"type":"text","content":"Transaction is Largest Non-Mall Retail Sale in South Florida Since 20171.","length":73,"tagName":"p"},{"type":"text","content":"MIAMI, April 2, 2026 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark") announces its Retail Capital Markets business has arranged the $210 million sale of the retail component of Miami Worldcenter, a newly constructed urban lifestyle center located at the epicenter of Downtown Miami's transformative mixed-use district. The sale marks the largest non-mall retail transaction recorded in South Florida since 2017.","length":440,"tagName":"p"},{"type":"image","alt":"Image courtesy of CIM Group.","displaySize":"","headline":null,"caption":"Image courtesy of CIM Group.","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":267,"url":"https://media.zenfs.com/en/prnewswire.com/467d58ccfa9cbff1999a892463745fb4"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/DZABmF_By1l4D0.zDtkeOw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3MQ--/https://media.zenfs.com/en/prnewswire.com/467d58ccfa9cbff1999a892463745fb4","width":400,"height":267}},"href":"https://mma.prnewswire.com/media/2949370/Newmark_Group_Miami_World_Center.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Newmark's Head of Retail Capital Markets, North America Conor Lalor acted as strategic advisor to his longtime client CIM Group, while Senior Managing Director Eric Williams represented the seller, a joint venture led by CIM Group and Park West Ventures, the master developer of the $6 billion Miami Worldcenter project, along with Co-Head of U.S. Capital Markets Adam Spies. The buyer is a joint venture between Falcone Group, The Davis Companies and Jamestown.","length":481,"tagName":"p"},{"type":"text","content":""Miami Worldcenter represents one of the most significant retail investment opportunities ever brought to market in South Florida," said Lalor. "Institutional investors continue to target large, irreplaceable retail assets located in dynamic urban districts, and Miami Worldcenter stands at the center of one of the fastest-growing downtown markets in the country."","length":385,"tagName":"p"},{"type":"text","content":"Completed in 2024, the property's retail component comprises approximately 272,966 square feet of upscale retail withi...