Asana Partners has purchased Red Bird Shopping Center, a 92,089-square-foot retail asset in Miami, for $62.1 million. Yardi Research Data lists the previous owner of the property as The Brandon Co. JLL Capital Markets brokered the deal on behalf of the seller.
The asset last changed hands in 1986 for $6.5 million, according to the same source, marking a significant return on investment.
Milam’s Market, Walgreens, Orion Fuels and Ace Hardware anchor the fully leased retail center. Other notable tenants include Crown Wine & Spirits and Quest Diagnostics. The center’s average tenant tenure is 31.2 years and it sees 1.5 million visits per year with 338,000 unique visitors.
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Located at 5761 Bird Road, Red Bird Shopping Center is near the intersection of U.S. Roads 959 and 976. The asset is surrounded by residential properties in the Coral Gables and South Miami neighborhoods. Downtown Miami is some 8 miles away, while the Miami International Airport is less than 7 miles north.
JLL Capital Markets’ Investment Sales and Advisory Team consisted of Senior Managing Director Danny Finkle, Senior Director Jorge Portela and Vice President Kim Flores.
South Florida’s retail activity
Miami’s retail market saw more than $1 billion in asset sales in the first half of this year, according to a second quarter report from Cushman & Wakefield, which is almost double the figure registered in the first six months of 2024. The metro recorded an average sale price of $437 per square foot in the second quarter of 2025, almost $200 more than the national average.
Earlier in June, Continental Realty Corp. bought CityPlace Doral, a three-story 235,000-square-foot grocery-anchored shopping center in Doral, Fla. PGIM Real Estate sold the asset for $87.5 million.
Last month, an affiliate of CORE Investment Management purchased Cortez Plaza, a 260,000-square-foot shopping center in Bradenton, Fla. LA Fitness and Sprouts Farmers Market serve as anchor tenants.
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