The Real Deal Miami

Nonprofit puts Lincoln Road building on market

ArtCenter South Florida owned Miami Beach property since 1988

July 02, 2014 09:45AM

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Robert Kaplan and Chris Lentz

Robert Kaplan and Chris Lentz

ArtCenter South Florida could cash in on the property investment flurry occurring on South Beach’s Lincoln Road.

The nonprofit announced on Tuesday that it plans to sell its nearly 18,000-square-foot building at 800-810 Lincoln Road. ArtCenter also owns a building at 924 Lincoln Road. That property is not for sale.

Chris Lentz and Robert Kaplan of Ackman-Ziff Real Estate’s Miami office are marketing 800-810 Lincoln Road on behalf of ArtCenter, which paid a mere $700,000 for the property in 1988.

ArtCenter cited a desire for “additional resources” for the organization’s expansion plans in Tuesday’s written announcement.

“The timing of this could not have been any better as the organization can now expand its exhibitions and educational outreach programs and increase the resources that are provided to the current and alumnae artists enabling them to continue to thrive,” ArtCenter chairwoman Kim Kovel said. — Eric Kalis

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