Affiliates of Harbor Group International (HGI), a privately owned international real estate investment and management firm, announced the sale of a retail trophy building in Miami's Design District to River Oaks Properties for $27 million. Located at 111-115 NE 40th St., HGI acquired the property in 2016 for $21.5 million.
The property encompasses two prime storefronts along one of Miami’s premier shopping corridors and is fully leased. Under HGI’s management, long-term tenant Rimowa, a luxury luggage manufacturer, renewed its lease in 2024. The firm also secured a long-term lease with footwear brand Birkenstock.
The Design District is located between downtown Miami and South Beach.
