Image courtesy of CIM Group.

The Davis Companies of Boston added an open-air retail complex near the Miami Heat’s arena to its portfolio.

The $210 million transaction includes the 300,000 square-foot retail portion of the Miami Worldcenter, which opened the first group of tenants in 2025.

Newmark’s retail capital markets team represented the seller, CIM Group and Park West Ventures, which are joint venture master developers of the $6 billion mixed-use project.

The Davis Companies and Jamestown are limited partners for the Miami Worldcenter acquisition. Falcone Group will serve as general partner and oversee operations.

“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,” Davis Managing Director of Investments Jerry Murphy said in a statement.

The first phase of retailers opened in 2025 and includes an Apple store, Club Studio, Maple & Ash, Ray-Ban, Sephora, Lululemon, Lucky Strike and Museum of Ice Cream.