The Real Deal Miami

Miami’s Miracle Marketplace sells for $92 million

January 24, 2013 11:15AM

Miracle Marketplace

Chicago-based real estate investment firm Heitman has paid $92 million for the Miracle Marketplace retail center on Miami’s Coral way. The property was sold by AWE Talisman in a deal handled by Jones Lang LaSalle’s Capital Markets team. The 243,047-square-foot center is anchored by Nordstrom Rack, Bed Bath & Beyond and Marshall’s, among other tenants. JLL Managing Directors Carson Good, Margaret Caldwell, Kris Cooper and Denny St Romain led the team on the transaction. “More trophy properties are coming to market with pricing not seen since before the Recession,” Caldwell said in a release. “Capital is also building for retail opportunities — culminating in quicker closings.” —Alexander Britell