Jackie Soffer.
Jackie Soffer
Chairman and CEO at Turnberry Associates
Jackie Soffer has had to weather two crises: the retail apocalypse of the past decade and the pandemic of the more recent one. With both, she’s emerged victorious and stronger.
As the only head of Turnberry Associates since 2019, the executive has managed the Aventura Mall, which her father Don Soffer developed in the 1980s. Despite the advent of online shopping, which forced thousands of similar indoor malls to shutter, the Aventura Mall never lost its luster thanks to its wide range of tenants. Both high-fashion houses, such as Fendi and Hermes, and mid-market brands, including Free People and H&M, still clamor for space. On any given weekend the shopping center is packed with shoppers.
The pandemic, which could have devastated the business, only made the retail property stronger. South Florida’s population grew thanks to Northerners who decamped in search of fewer COVID-19 restrictions, and so did the Aventura Mall’s sales. Despite being closed for about three months, sales were significantly up in 2021 from the year prior. In 2022, sales continued to grow. Now the 2.8 million-square-foot shopping center is fully leased.
Across Turnberry’s portfolio, “assets have continued to flourish,” Soffer said in a statement. “It’s been a productive two years.”
Under Soffer’s leadership, Turnberry has continued to make great strides. Almost all of the 5,000 rental units at SoleMia, a 174-acre master-planned community developed as a joint venture with another storied real estate family, the LeFraks, are leased. A 363,000-square-foot University of Miami medical center broke ground last year — to be completed in 2025 — and a 32-story condo building is set to break ground this year.
In Miami Beach, after a pandemic delay, Turnberry, along with Terra’s David Martin, is set to break ground on a $400 million hotel project attached to the Miami Beach Convention Center, where events like the Art Basel fair are held each year.
“We spent the pandemic planning our next development projects, and that will be reflected in announcements on dynamic residential and hospitality projects in 2023, both in Florida, Tennessee and beyond,” Soffer said. “I’m proud to see how my team is building on our 50-year history of placemaking with principles.” —J.E.
