Anthropologie will move from its longtime Lincoln Road location to a new, three-story building a few blocks down, being developed by Terranova Corp., The Real Deal has learned.
The popular women’s apparel, accessories and home goods retailer has signed a lease for 2,000 square feet on the ground floor, and the entire second floor, or 10,000 square feet, at 801 Lincoln Road, Terranova Chairman Stephen Bittel told the Miami Beach Historic Preservation Board on Tuesday.
Anthropologie has been at its current address, 1108 Lincoln Road, for more than a decade. In July 2012, Vornado Realty Trust paid $132 million for the 253,168 square-foot building which also houses Regal Cinemas South Beach and other tenants.
Anthropologie’s new location is not yet under construction, and will occupy the current site of Abuela’s and Deco Drive Cigars, near Dylan’s Candy Bar.
The building is one of two that Terranova is developing, geared to expand the Lincoln Road shopping district from the pedestrian promenade to 17th Street. As rents reach as high as $400 a square foot, the retail area is continuing to pour over onto the side streets.
The first building, at 723 Lincoln Lane, will have 42,000 square feet alongside Macy’s, and will be the site for Marshalls.
Bittel, who declined to comment further about Anthropologie’s lease due to a confidentiality agreement, said that the dream of expanding Lincoln Road along the side streets to 17th Street is becoming a reality.
“We think that is the future and we are happy to play a role in making it happen,” he told TRD. “This has been the long term vision of our community and it is really happening.”
Both Terranova buildings were designed by Allan Shulman’s Shulman + Associates, with Wolfberg Alvarez & Partners handling the working drawings for the second building, Bittel said.
Lincoln Road has drawn the attention of New York investors like Thor Equities and David Edelstein’s TriStar Capital. Thor owns 663-667 Lincoln Road and 605 Lincoln Road. And Edelstein is pursuing plans to build a contemporary 15,789-square-foot, two-story tall retail building on land his company leases from the Miami Beach Community Church at the corner of Drexel Avenue and Lincoln Road.
National and international retail tenants are also increasing their presence. New stores for Gap, Intermix, Athleta and Apple have all opened in recent months. Nike is next. In April, Nike won approval from the Miami Beach Historic Preservation Board to demolish the building that straddles the corner of Lenox and Lincoln Road and develop it into a 30,000-square-foot multistory building. Touzet Studio is designing the Nike store, which will incorporate design elements inspired by Morris Lapidus, including a facade that changes colors depending on sunlight.