Jackie Soffer Acquires Esplanade for $131,000,000
Aventura Ivonn Goihman December 19, 2025
Aventura Ivonn Goihman December 19, 2025
Jackie Soffer's $131M Acquisition: Esplanade at Aventura Is Now The Abbey at Aventura — What Changed & What's Coming
Turnberry Associates (Jackie & Harrison 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.
The Soffer family built Aventura from scratch — Don Soffer transformed swampland into a city with condo towers, a golf course, and one of the most productive malls in the country. The $131M Abbey acquisition continues that arc: every major investment the Soffers make in Aventura raises the city's profile as a retail and lifestyle destination — and that directly supports residential values across Aventura's luxury condo market.
| 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[4] |
| Built | 2023 (on former Sears/Kmart site) | Same structure; programming elevation underway |
| Vision | Open-air lifestyle center | Rodeo Drive-style luxury corridor (Abigail Road)[2] |
| Tenant Focus | Dining, fitness, national retail | Elevated dining + fitness + luxury brands + wellness |
| Incoming Tenants | — | Anatomy Fitness (25,482 sq ft), Hästens, Next Health, Salt & Straw, Feulard Aesthetic Lab[5] |
Sources: [1] The Real Deal / Bloomberg Dec 2025: $131M acquisition, Turnberry + Simon from Seritage · [2] CRE Daily / Bloomberg Dec 2025: Abigail Road "Rodeo Drive" vision; 3.2M sq ft Turnberry Aventura portfolio · [3] Commercial Observer Dec 2025: ~$600/sq ft · [4] BRG International Dec 2025: 12.3 acres, 512-space garage, $101.8M BofA mortgage · [5] Florida YIMBY Jun 2025 + Commercial Observer: incoming tenants including Anatomy 25,482 sq ft, Hästens, Next Health, Salt & Straw
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 that previously sat adjacent to Aventura Mall. At approximately $600 per sq ft, the deal reflects confidence in South Florida's outdoor lifestyle retail format at a time when indoor-only retail faces structural headwinds.[3]
The acquisition was financed with a $101.8M mortgage from Bank of America and brings Turnberry's total Aventura footprint to 3.2 million sq ft — encompassing the Mall, The Abbey, and a growing residential and hospitality portfolio.[2][4]
↗ Incoming tenants (as of 2025–26). Sources: Florida YIMBY, Commercial Observer.
Jackie Soffer serves as Chairman and CEO of Turnberry Associates — the development firm her father Don Soffer founded and used to literally 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 — which now draws approximately 32 million annual visitors and consistently ranks among the most productive retail centers in the country.[2][3]
Jackie, alongside son Harrison (a Turnberry principal), is continuing that pattern of long-horizon investment. The Soffers negotiated this specific acquisition for nearly a decade — an earlier attempt at a similar price point in 2016 didn't close — 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 single owner.
Harrison Soffer's stated vision for Abigail Road — the ring road connecting Aventura Mall and The Abbey — is a luxury corridor comparable to Rodeo Drive in Beverly Hills.[2] That aspiration, if even partially realised, would have significant upside implications for adjacent residential values.
The Goihman Group specialises in Aventura luxury condos and single-family homes. If you're evaluating how The Abbey and Turnberry's long-term vision affect your property's value, request a confidential conversation.
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 is what guides their clients' buying and selling decisions in South Florida's evolving market.
Contact the Goihman Group → · Aventura Listings →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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