Miami Worldcenter Hits Market: $300M+ for Fully Leased Trophy Asset

Key Points

• $300M+ Asking Price: Miami Worldcenter’s 273,000 SF retail component is on the market, fully leased to top-tier tenants.

• Prime Downtown Location: Anchored by Apple, Lululemon, Lucid Motors, and Club Studio, the open-air mall is part of a $6B, 27-acre mixed-use development.

• Strong Market Fundamentals: Miami-Dade retail vacancy remains low at 2.9%, highlighting robust demand for urban core retail.

Downtown Miami’s Retail Crown Jewel Up for Grabs 

Miami Worldcenter Associates, led by Art Falcone, Nitin Motwani, and CIM Group, have listed the fully leased retail segment of their downtown Miami mega-development. The 273,000-square-foot open-air retail space is seeking offers exceeding $300 million. 

This sale presents a rare opportunity for investors to acquire a stabilized, income-generating asset in one of the nation's fastest-growing urban markets.

Tenant Roster: A Curated Mix of Global Brands

The retail component boasts a diverse lineup of high-profile tenants:

• Apple: Downtown Miami’s first Apple Store.

• Lululemon: Premium athletic apparel retailer.

• Lucid Motors: Luxury electric vehicle showroom.

• Club Studio: Largest tenant with 35,363 SF.

• Lucky Strike: Entertainment venue occupying 31,190 SF.

• Sephora, Ray-Ban, Savage X Fenty, Free People, The Container Store, Museum of Ice Cream, and Juvia: Enhancing the lifestyle and entertainment offerings. 

This tenant mix ensures high foot traffic and long-term value, making the asset particularly attractive to institutional investors.

Market Context: Miami Retail Remains Resilient

Miami-Dade County's retail market continues to demonstrate strength, with a low vacancy rate of 2.9% as of Q1 2025. The Miami Worldcenter retail space, completed last year, is approximately 89% occupied, reflecting the area's robust demand.

The broader Miami Worldcenter development encompasses:

• 12,000 residential units.

• 600,000 SF of office space.

• 850 hotel rooms.

Its strategic location offers seamless connectivity to Brightline’s MiamiCentral Station, Metrorail, Metromover, and Tri-Rail, enhancing its appeal as a transit-oriented development. 

Investor Takeaway

The offering of Miami Worldcenter's retail component represents a unique opportunity to acquire a fully leased, high-performing asset in a premier urban location. Given the strong market fundamentals and the property's integration into a vibrant mixed-use development, this asset is poised to attract significant interest from investors seeking stable, long-term returns.