Historic Red Bird Shopping Center in Miami Sold for $62M

When Red Bird Shopping Center was sold in October for $62.1 million, the transaction initially landed as routine real estate news. Months later, the deal took on a second life online.

Local real estate agent Lynley Ciorobea, who posts under @lynleyresidential, recently called attention to the sale in an Instagram video that quickly spread among Miami residents. In the post, Ciorobea noted that the shopping center had sold to a company based in Charlotte, North Carolina, saying, “This place hasn’t sold for 40 years, and we do not know what’s going to happen next, but we’ve promised to keep you in the loop as the story unfolds.”

The post struck a nerve with locals who know Red Bird not as an investment asset but as a familiar neighborhood stop. Commenters shared memories of shopping trips with parents, walking for coffee and groceries at Milam’s (this is the grocery chain’s first location established in 1984), and long-closed tenants that once defined the center. Some recalled Grand Union and Piggly Wiggly before Milam’s, Mario the Baker’s garlic bread, and the vintage Red Bird sign that still lives on the property to this day.

Longtime Patrons of Milam’s, Matsuri, and Gilbert’s Are Tense

Red Bird Shopping Center is situated in the heart of Coral Gables and South Miami, surrounded by residential neighborhoods. The 92,000-square-foot retail property was sold to Asana Partners after nearly four decades under the same ownership. The Brandon Co., which acquired the center in 1986 for $6.5 million, sold the property for $62.1 million, according to Commercial Edge.

The shopping center is fully leased and anchored by Milam’s Market, Matsuri (winner of New Times‘ Best Japanese Restaurant 2025), Walgreens, Orion Fuels, Gilbert’s Bakery (winner of New Times Readers’ Choice for Best Bakery 2025) and Ace Hardware. Other tenants include Crown Wine & Spirits and Quest Diagnostics. Many of the businesses have operated at Red Bird for decades.

On average, tenants have been in place for more than 30 years. According to the deal details, the center receives approximately 1.5 million visits each year, with around 338,000 individual visitors.

Why the Sale Struck a Nerve

Several commenters questioned what the sale could mean for longtime tenants, with some openly worrying that large residential development would replace the center, a concern shaped by recent examples in places like Coconut Grove. This year, two of Coconut Grove’s most beloved neighborhood restaurants have had to either relocate or close entirely to make way for a massive mixed-use building that aims to transform the historic neighborhood.

So far, only the seller and the buyer are confirmed. Asana Partners has not announced plans for the site, nor have any redevelopment proposals, demolition permits, or rezoning applications been made public regarding the property. Tenants remain open and operating, but after nearly 40 years under the same ownership, the sale marks a turning point for a shopping center that has long served nearby neighborhoods, leaving many residents watching closely to see what comes next.

Red Bird Shopping Center. 5761 Bird Rd., Miami; 305-669-5686.