Miami Worldcenter Associates has sold Miami Worldcenter’s 27-acre retail and entertainment district to a venture comprised of affiliates of the Falcone Group, ROK Acquisitions, Andrew Mirmelli, The Davis Companies (Davis) and Jamestown for $210 million. The district features 300,000 square feet of retail, dining and entertainment businesses, approximately 2,000 parking spaces, and 100,000 square feet of parks and plazas. Miami Worldcenter, a $6 billion mixed-use development, is one of the largest in the U.S. and has activated Downtown Miami with global retail and dining brands, residential towers, hotel options, and new public spaces. Under the new ownership structure, Falcone Group will serve as General Partner responsible for day-to-day operations, joined by ROK Acquisitions and Andrew Mirmelli, with Davis and Jamestown serving as Limited Partners.
Miami Worldcenter’s journey began two decades ago with the assemblage of more than 30 parcels in Miami’s Park West neighborhood and in 2011 the current Miami Worldcenter Associates partnership was formed with Falcone Group, Nitin Motwani and CIM Group. Miami Worldcenter Associates has led the project’s construction in tandem with best-in-class developers from across the country. Along the way, Miami Worldcenter has catalyzed the revitalization of Downtown Miami, with billions in private sector investment pouring into the surrounding district and more than 100,000 residents now calling the neighborhood home.
The following properties are included in the transaction:
Block H Garage – 644 NE 2nd Avenue (922 parking spaces)
Block H Retail – 652 NE 2nd Avenue
Block F West – 725 NE 1st Avenue (including the Apple store at 100 NE 8th Street)
Block F East – 150 NE 8th Street
Block D East Retail – 850 NE 2nd Avenue
Block D East Garage – 888 NE 2nd Avenue (1,100 parking spaces)
Block CD West – 851 NE 1st Avenue
“The coming to life of Miami Worldcenter has been a two-decade journey that began with the belief that Downtown Miami was poised to become a true global destination. What was once a stretch of vacant lots is now a vibrant, walkable neighborhood that reflects the energy, diversity, and ambition of our city. When CIM Group joined the partnership it provided momentum, enabling the team to realize our shared vision for Miami Worldcenter, and as the new owners, we’re committed to sustaining the property’s success well into the future,” said Falcone Group CEO and Miami Worldcenter Associates Founding Partner Art Falcone.
Image via Blue Water Drones
“When CIM Group team members first visited the Miami Worldcenter development site, it was collection of overgrown dirt plots and underutilized structures—but it was clear that this was a premier location with potential for a thoughtfully designed mixed-use development,” said Shaul Kuba, Co-Founder and Principal, CIM Group. “CIM Group joined Art Falcone and Nitin Motwani in a shared vision to create a dynamic, game-changing destination that has been realized as Miami Worldcenter.
The Davis Companies’ involvement reflects a shared conviction in Miami Worldcenter’s strong foundation, long-term potential, and next phase of growth. By combining continuity of vision with additional institutional capital, strategic oversight, and operational discipline, the partnership is well positioned to build on the project’s early success and thoughtfully execute the next phase of leasing, activation, and customer experience initiatives that will further elevate both performance and placemaking.
Davis, a Boston-based investment, development and real estate fund management company that is celebrating its 50th anniversary in 2026, is making this investment in Miami Worldcenter as the firm expands its portfolio of transformational projects turning underused underutilized space into vibrant mixed-use destinations.
“Miami Worldcenter is recognized nationally for its evolution from parking lots, low rise industrial buildings and undeveloped space to an entirely new district within a city, creating endless opportunities for residents to live, shop and socialize all in one neighborhood,” said Jerry Murphy, Managing Director of Investments at Davis. “This partnership with Falcone and Jamestown will unlock new potential for the site’s retail components as it enters its next chapter. Davis is thrilled to expand our South Florida portfolio and to be part of a project redefining the urban landscape in the vibrant and dynamic Downtown Miami area.”
Home to an array of shopping, dining, entertainment options set alongside thousands of residences and hotel rooms, Miami Worldcenter is a master-planned development which features 300,000 square feet of retail, $100 million in privately built infrastructure, 100,000 square feet of public space, a $5 million collection of public artworks, and more than 16 residential and hospitality towers – many of which are already completed or underway.
“More than a master-planned development, Miami Worldcenter is a true city within a city that has transformed Downtown Miami with top retail brands and food and beverage operators from around the world. Bringing it all together is an amazing network of public spaces that are bringing our community together every day. This would not have been possible without the foresight of Falcone Group and CIM Group, which understood the potential for this neighborhood long before anyone else,” said longtime Miami Worldcenter Associates Managing Partner Nitin Motwani.
The first phase of retail development was completed and opened in early 2025 and is now home to an array of global brands – including a flagship Apple store, Sephora, Lululemon, Ray-Ban, Lucid Motors, Free People, Savage X Fenty, Posman Books, HŸP Sneakers & Streetwear, Timeluxe, Openbank by Santander, SkinSpirit, Blo Blow Dry Bar, and Club Studio.
Miami Worldcenter’s food and beverage offerings include Maple & Ash, Eight Bar, Sixty Vines, Earls Kitchen + Bar, Sweet Paris Crêperie & Café, and Starbucks, and local favorites including Serafina, and Go Greek Yogurt. Entertainment destinations include Lucky Strike Bowling and the immersive Museum of Ice Cream.
Supporting Miami Worldcenter’s retail tenants are several residential towers which bring a built-in population that have been developed by notable owners such as of Related Group, Naftali Group, Witkoff, Adam Neumann’s Flow, Merrimac Ventures, Aria Development Group, Lalezarian Properties, Falcone Group, Abbhi Captial, and Lynd Group. On the hospitality front, the citizenM Miami Worldcenter hotel is now open, with additional hotel concepts set to debut in future phases.
Complementing these commercial and residential offerings is convenient access to rail, road, and pedestrian connections, with Miami Worldcenter standing as South Florida’s premier transit-oriented development. Located adjacent to Brightline’s MiamiCentral Station – a high-speed rail hub linking Downtown Miami to major cities across Florida – the development is also seamlessly connected to Tri-Rail, Metrorail, Metromover, and the Brickell/Biscayne trolley systems, ensuring effortless regional mobility.
Images via Miami Worldcenter and Blue Water Drones
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Miami Worldcenter Associates has sold Miami Worldcenter’s 27-acre retail and entertainment district to a venture comprised of affiliates of the Falcone Group, ROK Acquisitions, Andrew Mirmelli, The Davis Companies (Davis) and Jamestown for $210 million. The district features 300,000 square feet of retail, dining and entertainment businesses, approximately 2,000 parking spaces, and 100,000 square feet of parks and plazas.