MIAMI, Oct. 17, 2025 /PRNewswire/ -- Affiliates of Harbor Group International, LLC ("HGI"), a privately owned international real estate investment and management firm, today announced the sale of a retail trophy building in Miami's Design District to River Oaks Properties ("ROP") for $27 million. Located at 111-115 NE 40th Street, 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 successfully secured a long-term lease with footwear brand Birkenstock, further enhancing the overall asset value.

"Our investment in the Miami Design District exemplifies HGI's strategy of selectively targeting retail assets in premier locations with long-term value creation," said Lane Shea, Managing Director at HGI. "Our strategic management of the property and focus on curating a durable tenant mix positioned the asset for a successful sale on behalf of our investors."

Located between Downtown Miami and South Beach, the Design District is one of Miami's most dynamic luxury retail destinations, attracting leading global brands and shoppers alike.

About Harbor Group International

Harbor Group International, LLC, and its affiliates control an investment portfolio of approximately $21 billion, including 62,000 apartment units in the United States and 5.0 million square feet of commercial space throughout the United States and the United Kingdom. In addition to its corporate headquarters in Norfolk, Virginia, Harbor Group International maintains offices in New York, Baltimore, Los Angeles, and Tel Aviv. Follow Harbor Group International on LinkedIn.

Media Contacts:

Prosek Partners for HGI

[email protected] 

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SOURCE Harbor Group International, LLC