Jackie Soffer Acquires Esplanade for $131,000,000
Aventura Ivonn Goihman August 5, 2026
Aventura Ivonn Goihman August 5, 2026
Latest - Updated March 2026
Jacquelyn Soffer (Chairman and CEO of Turnberry Associates, publicly known as Jackie Soffer) and Simon Property Group closed the $131M acquisition of the former Esplanade at Aventura in December 2025, immediately rebranding it The Abbey at Aventura. The 219,000 sq ft open-air center at 19505 Biscayne Boulevard sits directly adjacent to Aventura Mall. Long-term vision: transform Abigail Road - the ring road connecting the two properties - into South Florida's answer to Rodeo Drive.
Direct Answer
The Soffer family built Aventura from scratch - Don Soffer transformed swampland into a thriving city with condo towers, golf courses, and Aventura Mall. The $131M Abbey acquisition by Jacquelyn (Jackie) Soffer continues that legacy. Turnberry's vision is to elevate the 219,000 sq ft lifestyle center into a high-end luxury corridor along Abigail Road connecting to Aventura Mall, bolstering residential property values across Aventura's luxury condo market.
Comparison - What Changed
Detail | Esplanade at Aventura (Before) | The Abbey at Aventura (Now) |
|---|---|---|
Owner | Seritage Growth Properties (Sears spinoff REIT) | Turnberry Associates + Simon Property Group |
Address | 19505 Biscayne Boulevard | 19505 Biscayne Boulevard (same site) |
Size | 219,000 sq ft - 12.3 acres | 219,000 sq ft - 12.3 acres + 512-space garage |
Built | 2023 (on former Sears/Kmart site) | Same structure; programming elevation underway |
Vision | Open-air lifestyle center | Rodeo Drive-style luxury corridor (Abigail Road) |
Tenant Focus | Dining, fitness, national retail | Elevated dining + fitness + luxury brands + wellness |
Incoming Tenants | - | Anatomy Fitness (25,482 sq ft), Hastens, Next Health, Salt & Straw |
Sources: The Real Deal, CRE Daily, Commercial Observer, Florida YIMBY 2026.
The Transaction Details
Turnberry and Simon Property Group purchased the 219,000 sq ft property from Seritage Growth Properties, the REIT formed by Sears Holdings in 2015 to redevelop its real estate. The site was completed in 2023 on the former footprints of the Sears and Kmart stores adjacent to Aventura Mall. At approximately $600 per sq ft, the deal reflects confidence in South Florida's outdoor lifestyle retail format.
The acquisition brings Turnberry's total Aventura footprint to 3.2 million sq ft - encompassing Aventura Mall, The Abbey, and a growing residential and hospitality portfolio.
Tenant Lineup
Who Is Jackie Soffer
Jacquelyn Soffer - publicly known as Jackie Soffer - serves as Chairman and CEO of Turnberry Associates, the development firm her father Don Soffer founded and used to build the city of Aventura from swampland, beginning in the 1970s. Don Soffer's legacy includes the original Aventura condo towers, the Turnberry Isle golf course, and Aventura Mall itself.
Jacquelyn, alongside her son Harrison Soffer (a Turnberry principal), is continuing that pattern of long-horizon investment. The Soffers negotiated this specific acquisition for nearly a decade before completing the $131M deal in December 2025. With 3.2 million sq ft now under control in Aventura's core, Turnberry's footprint shapes the city's retail and residential character more directly than any other owner.
1. Lifestyle infrastructure drives residential premiums: The Abbey adds dining, wellness, and retail capacity that directly supports the "walkable luxury" positioning Aventura condos command.
2. The Rodeo Drive vision changes the calculus: If Abigail Road evolves into a high-end retail corridor, properties within walking distance of Aventura Mall and The Abbey will see sustained demand.
3. Turnberry's 3.2M sq ft ownership concentration: In very few US cities does a single family control this much of the built environment, ensuring long-horizon investment continuity.
Frequently Asked Questions
Jacquelyn Soffer - publicly known as Jackie Soffer - is the Chairman and CEO of Turnberry Associates, one of South Florida's most prominent real estate development firms. She completed the $131M acquisition of the former Esplanade at Aventura in December 2025 alongside Simon Property Group.
Jacquelyn Soffer is the formal first name of Jackie Soffer, Chairman and CEO of Turnberry Associates. She led the $131M acquisition of The Abbey at Aventura in December 2025 and is executing a vision to transform Abigail Road into a luxury corridor comparable to Rodeo Drive.
Harrison Soffer is a principal of Turnberry Associates and the son of Jacquelyn (Jackie) Soffer. He was actively involved in the $131M acquisition of The Abbey at Aventura and has stated a vision for Abigail Road to become a luxury retail corridor.
Esplanade at Aventura was acquired by Turnberry Associates and Simon Property Group for $131M in December 2025 and rebranded as The Abbey at Aventura. The 219,000 sq ft open-air center continues operating with existing tenants while incoming luxury tenants are being added.
The Abbey at Aventura is the rebranded name of the former Esplanade at Aventura - a 219,000 sq ft open-air lifestyle center at 19505 Biscayne Boulevard in Aventura, FL. Current tenants include STK Steakhouse, North Italia, Sweetgreen, Industrious, and Pura Vida Miami.
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Richard Goihman and Ivonn Goihman are Aventura-based luxury real estate specialists. Their understanding of how major retail and development projects - like The Abbey at Aventura - affect residential values guides their clients' buying and selling decisions in South Florida's evolving market.
The Goihman Group knows Aventura's market from the inside. Request a confidential consultation and find out what The Abbey and Turnberry's long-term vision mean for your property's value.
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