Miracle Marketplace

Miracle Marketplace is a shopping and retail complex located at 3301 Coral Way in Miami, Florida, a short distance east of Coral Gables. The property opened in March 1989 as Miracle Center, a conventional suburban shopping mall designed by Architectonica International in a 1980s post-modern style. Its original architecture included large trapezoidal forms described as clouds attached to the facade, although those elements were later removed during a renovation by subsequent owners. The center initially combined chain retail tenants, restaurants, and entertainment. Its opening-era occupants included a General Cinema movie theater and restaurant chains such as Chili's, TGI Friday's, and Fuddruckers. The development struggled to maintain sufficient customer traffic and tenant occupancy. By 1996, most of its inline retail tenants had closed, prompting the developers to announce a redevelopment of the first level around local vendors and a marketplace concept. The complex was renamed The Village at Paseos as part of that repositioning. The Village at Paseos concept did not generate the expected level of business. In 2000, Swerdlow Group acquired the property and renovated it for office use. That strategy also proved short-lived: the offices closed after the collapse of the dot-com bubble, leaving Bally Total Fitness as the only tenant carried over from the earlier retail period at that point. Talisman Companies acquired the building in 2005 and pursued another redevelopment, this time intending to create a power center anchored by larger-format retailers. Preliminary tenant plans mentioned DSW Shoe Warehouse, PetSmart, OfficeMax, and Ulta. Following the redevelopment, the three-story, approximately 260,000-square-foot property reopened in 2009 under the Miracle Marketplace name. Reported tenants at the reopened center included Marshalls, Michaels, Nordstrom Rack, PetSmart, DSW Shoe Warehouse, and Bed Bath & Beyond. The history of Miracle Marketplace is therefore defined less by a single retail brand or product line than by repeated changes in format, ownership, tenant strategy, and positioning. It evolved from a traditional mall into a local-vendor marketplace, then an office complex, and finally a large-format retail center. Available reference material documents the center through its 2009 reopening but does not establish its current ownership, tenant roster, operating status, or official website.

Miracle Marketplace began as Miracle Center, which opened in March 1989 on Coral Way in Miami. Architectonica International designed the complex in a post-modern architectural style associated with the period. Its facade originally featured large trapezoidal elements referred to as clouds. The initial tenant mix followed the standard enclosed-mall model of the late 1980s, combining chain retailers, restaurants, and entertainment. A General Cinema theater operated at the property, while Chili's, TGI Friday's, and Fuddruckers were among the restaurant tenants. The original retail concept weakened during the first half of the 1990s. By 1996, most inline tenants had departed because of insufficient business. The developers responded by proposing a marketplace format focused on local vendors and reconstructing the first level for that purpose. The property was renamed The Village at Paseos, reflecting the change in concept and identity. This repositioning did not attract enough activity to become a durable success. Swerdlow Group purchased the complex in 2000 and changed its use again, renovating the property for office occupancy. The office strategy was exposed to the downturn that followed the end of the dot-com boom. The offices subsequently closed, and Bally Total Fitness was reported as the only tenant remaining from the previous mall configuration at that stage. The building's facade was also altered during later renovation work, including removal of the original cloud-like architectural attachments. Talisman Companies acquired the property in 2005 and proposed rebuilding it as a power center. The planned tenant mix emphasized larger-format retailers, with DSW Shoe Warehouse, PetSmart, OfficeMax, and Ulta identified in the initial plans as possible occupants. The redevelopment culminated in the property's reopening in 2009 as Miracle Marketplace. At that time, the three-story complex was described as having approximately 260,000 square feet of space on a roughly 6-acre site. Reported tenants included Marshalls, Michaels, Nordstrom Rack, PetSmart, DSW Shoe Warehouse, and Bed Bath & Beyond. The documented history presents Miracle Marketplace as a repeatedly repositioned commercial property rather than a conventional consumer-goods brand. Its identity changed in response to tenant vacancies, redevelopment objectives, broader commercial conditions, and shifts between mall, marketplace, office, and power-center formats. The available reference material does not provide reliable information about the property's ownership, management, tenant roster, or operating status after the 2009 reopening.

• 2009

  Miracle Marketplace reopens

  [1]Miracle Marketplaceen.wikipedia.org

  The approximately 260,000-square-foot, three-story property reopens under the Miracle Marketplace name with tenants including Marshalls, Michaels, Nordstrom Rack, PetSmart, DSW Shoe Warehouse, and Bed Bath & Beyond.

• 2005

  Talisman Companies announces a power-center redevelopment

  [1]Miracle Marketplaceen.wikipedia.org

  Talisman Companies purchases the building and advances plans for a large-format retail redevelopment, with several national chains considered as prospective tenants.

• 2000

  Swerdlow Group acquires and converts the property

  [1]Miracle Marketplaceen.wikipedia.org

  Swerdlow Group buys the complex and renovates it for office use after the Village at Paseos concept fails to generate sufficient business.

• 1996

  Marketplace redevelopment is proposed

  [1]Miracle Marketplaceen.wikipedia.org

  After most inline tenants leave, the developers announce plans to rebuild the first level around local vendors and rename the property The Village at Paseos.

• 1989

  Miracle Center opens

  [1]Miracle Marketplaceen.wikipedia.org

  The shopping complex opens in March on Coral Way in Miami with chain retailers, restaurants, and a General Cinema movie theater.

A neighborhood-oriented, multi-tenant retail complex whose positioning changed over time from a conventional shopping mall to a local marketplace, an office property, and ultimately a power-center-style retail destination.

• Shopping-center retail · 1989

  Retail tenant space

  Miracle Marketplace's principal commercial offering is multi-tenant retail space rather than a proprietary product line. The center has hosted national off-price, specialty, home, footwear, craft, and pet-supply retailers, with the tenant mix changing across redevelopment phases.

• Dining and entertainment · 1989

  Food and entertainment uses

  The original Miracle Center format included a movie theater and chain restaurants, including Chili's, TGI Friday's, and Fuddruckers. The available material does not confirm whether these uses remained after later redevelopments.

• Large-format retail · 2009

  Power-center retail mix

  Following the 2005 redevelopment plans and 2009 reopening, the property was positioned around larger-format and destination retailers. Reported occupants included Marshalls, Michaels, Nordstrom Rack, PetSmart, DSW Shoe Warehouse, and Bed Bath & Beyond.

• 2005

  Power-center redevelopmentStrategy

  Background

  The office conversion did not produce a lasting occupancy strategy, and the property required another commercial repositioning.

  Action taken

  Talisman Companies acquired the building and announced plans to rebuild it as a power center, initially identifying DSW Shoe Warehouse, PetSmart, OfficeMax, and Ulta as possible tenants.

  Aftermath

  The redeveloped property reopened in 2009 as Miracle Marketplace with a large-format retail tenant mix.

  Source

• 2000

  Conversion to office spaceStrategy

  Background

  The Village at Paseos concept failed to attract enough commercial activity.

  Action taken

  After acquiring the property, Swerdlow Group renovated it for office occupancy.

  Aftermath

  The offices closed after the end of the dot-com bubble, leaving Bally Total Fitness as the remaining tenant identified in the reference account.

  Source

• 1996

  Repositioning as The Village at PaseosStrategy

  Background

  Most of the property's inline retail tenants had closed, weakening the original shopping-mall model.

  Action taken

  The developers proposed reconstructing the first level as a marketplace for local vendors and changed the complex's name to The Village at Paseos.

  Aftermath

  The marketplace concept did not generate sufficient business and was later replaced by an office-oriented strategy.

  Source

1. 1Miracle Marketplaceen.wikipedia.org