MIAMI—Heitman has snapped up a reinvented trophy power center in Miami's Coral Way submarket for $92 million. Hietman bought Miracle Marketplace, a 243,047-square-foot, seven-story class A vertical retail property, from AWE Talisman.
Jones Lang LaSalle's Capital Markets represented AWE. JLL managing directors Carson Good, Margaret Caldwell, Kris Cooper and Denny St. Romain led the JLL team on this transaction.
"Miracle Marketplace offered investors best-in-class tenants in a densely populated, high barrier-to-entry retail corridor offering a great deal of market growth," says Good. "Heitman's purchase of this irreplaceable asset with a towering physical presence will allow them to capitalize on Miami's ongoing urban revitalization and strengthening retail fundamentals."
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