1111 Lincoln Road

Brokers say the addition of the 1111 Lincoln Road project in South Beach has altered the retail real estate landscape in the northern portion of the neighborhood. The project, which includes tenants like Danny Meyer’s Shake Shack and Nespresso Café, has impacted the way landlords in the area think about their property, said Mike Comras, president of Comras, a retail brokerage firm based in Miami Beach. “I would say Lincoln Road is one of the hottest streets in the country right now,” Comras said. [more]

Developer Robert Wennett has closed on a $76 million refinancing of 1111
Lincoln Road, the parking garage that was designed by world-famous
architects Herzog & de Meuron. HSBC and PNC banks arranged the
five-year loan, which paid off the original construction loan on the
project. “This is a significant project in a great location, with a
strong owner and strong tenants,” said Adam Lustig, the Bilzin Sumberg
partner who represented Wennett. The building houses retail tenants like
Shake Shack and Taschen Books, along with a 100,000-square-foot office
building and a personal penthouse apartment for Wennett.