Heitman Buys 243 KSF of Retail in Miami

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Heitman Buys 243 KSF Retail Property in Miami from AWE Talisman By Gail Kalinoski, Contributing Editor AWE Talisman has sold Miracle Marketplace, a Class A, 243,047-square-foot, retail power center in the Miracle Mile/Coral Way submarket of Miami, to Heitman for $92 million.“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,” Carson Good, a managing director with Jones Lang LaSalle’s Capital Markets Group, said in a statement. “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.”Good and his colleagues Margaret Caldwell, Kris Cooper and Denny St. Romain, all JLL managing directors, handled the transaction for AWE Talisman.The Coral Gables, Fla., real estate firm, which specializes in repositioning shopping centers, bought the seven-story retail property located on nearly 3.5 acres at 3301 Coral Way, for $15 million in July 2004, according to Miami-Dade County, Fla., records. In recent years, AWE Talisman, led by President and CEO James Schlesinger, redeveloped… via Heitman Buys 243 KSF Retail Property in Miami from AWE Talisman | Commercial Property Executive.

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