Harbor Group International Completes Sale of Miami Retail Asset for $27 Million

Harbor Group International Sells Key Miami Retail Asset

Miami, FL – October 17, 2025 – Harbor Group International, LLC (HGI), a privately owned international real estate investment and management firm, recently announced the successful sale of a notable retail property in Miami's renowned Design District. The asset was sold to River Oaks Properties (ROP) for a notable sum of $27 million, illustrating HGI's strategic foresight in the competitive real estate market.

Located at 111-115 NE 40th Street, the retail trophy building was acquired by HGI in 2016 for approximately $21.5 million. This location boasts two prime storefronts situated along one of Miami's premier shopping corridors, which is a focal point for high-end brands and affluent shoppers.

Under Harbor Group's management, the property has thrived, with long-term tenant Rimowa renewing its lease in 2024, ensuring stability and continuity. The addition of another reputable tenant, the footwear brand Birkenstock, has further enhanced the property's appeal and overall value. Such strategic tenant selection has contributed significantly to the asset's desirability in the market.

Lane Shea, Managing Director at HGI, expressed his satisfaction with the sale, stating, “Our investment in the Miami Design District exemplifies HGI's strategy of selectively targeting retail assets in premier locations with long-term value creation.” He emphasized the firm’s deliberate management approach and focus on maintaining a durable tenant mix, which ultimately set the stage for a successful sale that benefits their investors.

The Miami Design District is not just any retail hub; it is a dynamic luxury destination known for attracting elite global brands and discerning customers alike. The location offers a unique blend of fashion, art, and dining experiences, making it a hotspot that continues to thrive in the competitive retail landscape.

HGI’s strategic decisions in property management and investment illustrate the firm’s commitment to maximizing asset values while enhancing the shopping environment in the Design District. The successful sale of this retail property reinforces HGI’s position as a leader in the real estate investment sector.

In total, Harbor Group International controls an impressive investment portfolio valued at approximately $21 billion. This includes over 62,000 apartment units throughout the United States and 5 million square feet of commercial real estate in both the U.S. and the U.K. With its corporate headquarters located in Norfolk, Virginia, and additional offices in major cities including New York, Baltimore, Los Angeles, and Tel Aviv, the firm maintains a strong presence in the competitive real estate market.

Through strategic acquisitions and careful management, Harbor Group International continues to make its mark in the real estate industry, as evidenced by this recent sale. For further updates and news, follow Harbor Group International on LinkedIn and stay connected with their ongoing projects and investments in the real estate sector.