Miami Worldcenter Associates has announced the completion of a significant amount of retail space, and closed on the purchase of a large retail condo at the base of the Paramount condo tower.

A total of 150,000 square feet of retail has now been completed at Miami Worldcenter, the developer said in a statement.

An additional 50,000 square feet is in development and will be delivered in the coming months.

Earlier this month, a 65,000 square feet retail condo built at the base of the newly completed Paramount Miami Worldcenter was purchased by Miami Worldcenter Associates for $17.52 million, records show. Banco Inbursa provided a $55 million mortgage.

Miami Worldcenter has a “plan to deliver a vibrant and connected pedestrian-friendly retail experience in the center of Downtown Miami’s thriving urban core,” Managing Partner Nitin Motwani said.

Closings are now underway at the residential Paramount Miami Worldcenter condo tower above the retail space.

Retail tenants have not been announced yet.


(photos: phillip pessar)

Source: The Next Miami