Related Group and Tricap Sold Wynwood Retail Condo
A retail space in Miami leased to Casa Tua has been sold for $33 million by a joint venture.
Updated on Sept. 21, 2026 in Commercial
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Related Group and Tricap sold a 15,000-square-foot retail condo in the Wynwood neighborhood of Miami to Optimar International Realty. The transaction for the space at 2700 Northwest Second Avenue was finalized for $33 million.
Why it matters
The sale marks a significant exit for the developers from the retail component of their completed residential project. The developers facilitated the deal by providing $26 million in seller financing to the purchaser.
The retail unit is located within the 329-condo NoMad Residences development, which sits on a 1-acre site. The property includes a Casa Tua dining concept that opened earlier this year.
The players
Related Group
A prominent real estate development firm based in Florida that specializes in luxury residential and mixed-use projects.
Tricap
A real estate investment and development company that frequently partners on large-scale urban development projects.
Optimar International Realty
A global real estate brokerage firm that provides services for residential and commercial property acquisitions.
Casa Tua
An upscale Italian dining and lifestyle brand that operates high-end restaurants and food hall concepts.
The details
The retail condo is situated at 2700 Northwest Second Avenue, serving as the commercial anchor for the NoMad Residences building. The joint venture partners, Related Group and Tricap, previously secured a $142 million construction package to develop the property.
Timeline
The developers purchased the 1-acre building site in 2021.
A $142 million construction package was secured in 2024.
The Casa Tua Cucina Italian food hall opened in April 2026.
The joint venture completed the NoMad Residences building in 2026.
Roadmap
This sale reflects the broader trend of developers monetizing retail components of large-scale, mixed-use luxury developments in urban centers. It highlights the continued institutional interest in high-end commercial spaces within Miami's transforming districts.
The transition of ownership to Optimar International Realty marks a change in the management of the retail anchor at the NoMad Residences. Residents and visitors can expect the Casa Tua food hall to continue its operations under the new property owner.
The takeaway
Commercial real estate investors often use seller financing to finalize high-value property deals during periods of shifting market conditions. This structure allows developers to secure an exit while providing liquidity to the buyer to complete the purchase.
Further reading
For more information on the local market, visit the Miami Commercial section.
Source note: This article includes information reported by Commercial Observer.
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