Jackie Soffer Acquires Esplanade for $131,000,000
Aventura Ivonn Goihman December 19, 2025
Aventura Ivonn Goihman December 19, 2025
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.
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.
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 [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 [2] CRE Daily / Bloomberg Dec 2025 [3] Commercial Observer Dec 2025 [4] BRG International Dec 2025 [5] Florida YIMBY Jun 2025 + Commercial Observer
The Deal
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 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]
What's There Now -- and What's Coming
↗ Incoming tenants (as of 2025-26). Sources: Florida YIMBY, Commercial Observer.
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 -- which now draws approximately 32 million annual visitors and consistently ranks among the most productive retail centers in the country. [2][3]
Jacquelyn, alongside son Harrison Soffer (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.
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 is the daughter of Don Soffer, who founded Turnberry Associates and developed Aventura from swampland starting in the 1970s. Under Jacquelyn Soffer's leadership, Turnberry Associates manages 3.2 million sq ft of commercial and retail space in Aventura, including Aventura Mall and The Abbey at Aventura. 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, together with her son Harrison Soffer, is executing a long-term vision to transform Abigail Road into a luxury retail corridor comparable to Rodeo Drive. Jacquelyn Soffer continues the development legacy of her father Don Soffer, who originally built Aventura from undeveloped swampland.
Harrison Soffer is a principal of Turnberry Associates and the son of Jacquelyn (Jackie) Soffer. He was involved in the $131M acquisition of The Abbey at Aventura in December 2025 and has publicly stated a vision for Abigail Road -- the ring road connecting Aventura Mall and The Abbey -- to become a luxury retail corridor comparable to Rodeo Drive in Beverly Hills.
Esplanade at Aventura was acquired by Turnberry Associates and Simon Property Group for $131M in December 2025 and immediately rebranded as The Abbey at Aventura. The 219,000 sq ft open-air center at 19505 Biscayne Boulevard -- built in 2023 on the former Sears and Kmart site adjacent to Aventura Mall -- continues operating with existing tenants while incoming tenants including Anatomy Fitness (25,482 sq ft) and Hästens 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, owned by Turnberry Associates (Jacquelyn Soffer) and Simon Property Group following a $131M acquisition in December 2025. Current tenants include STK Steakhouse, North Italia, Sweetgreen, Industrious, and Pura Vida Miami. Incoming tenants include Anatomy Fitness, Hästens, Next Health, and Salt & Straw.
Aventura -- Sunny Isles Beach -- Bal Harbour -- South Florida Luxury
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.
Stay up to date on the latest real estate trends.
The definitive 2026 guide to Miami's top luxury waterfront neighborhoods | Star Island, Fisher Island, Coconut Grove & more. Current prices, market data, and off-marke… Read more
Aventura
Aventura
Now Rebranded as The Abbey at Aventura
Local Knowledge & Lifestyle
Find traditional coffee shops and niche cafes in Sunny Isles.
Local Knowledge & Lifestyle
These establishments exemplify Aventura’s pet-friendliness.
Top 5
Top 5 of South Florida
Andover
Explore the Best Andover Townhomes: Your Guide to Style, Location, and Value
Sunny Isles, FL
Practical strategies to create a healthier and more comfortable living environment in Sunny Isles, Florida.
Sunny Isles, FL
Practical strategies for year-round care of your coastal property in Sunny Isles, Florida.
Discover the epitome of luxury real estate representation with The Goihman Group. From distinguished properties to global alliances, trust their consummate professionalism and extensive network to navigate the world of luxury real estate effortlessly.