Vornado pays $132 million for complex on Miami Beach’s Lincoln Road

The 166,500-square-foot retail center at 1100 Lincoln Road in Miami Beach has transacted for $132 million, the South Florida Business Journal reported. The property was bought by VCP Lincoln Road, which is an affiliate of the Vornado Real Estate Investment Trust. The seller was New York investor Aby Rosen, whose company, 1100 Lincoln Road, had a $34 million mortgage on the property. It is just across from the new 1111 Lincoln Road multi-use complex. The property is highlighted by the Regal South Beach Stadium movie theater complex. [SFBJ]