Williams-Sonoma and Pottery Barn, which shuttered their shops on Lincoln Road in March, are returning to the district — in Lucky Strike’s former space, The Real Deal has learned.
Several real estate sources told TRD that the stores, both part of Williams-Sonoma Inc., have leased space at The Lincoln, at 1691 Michigan Avenue, just off Lincoln Road in Miami Beach. Lucky Strike, which closed at the end of 2014, occupied 18,175 square feet on the building’s ground floor, according to CoStar data.
Stephen Rutchik, executive vice president for Colliers International, in charge of leasing the Lincoln, told TRD that he had no comment. A call to Williams-Sonoma’s corporateoffice in San Francisco was not returned on Tuesday.
The move comes as rents reach as high as $400 per square foot, leading several retailers to move to side streets, as the pedestrian-only Lincoln Road expands into a wider district.
Williams Sonoma and Pottery Barn were formerly at 1035 Lincoln Road and 1045 Lincoln Road, respectively. That building, which straddles the corner of Lenox Avenue at Lincoln Road, will soon be torn down to make way for a new Nike store. In April, Nike won approval from the Miami Beach Historic Preservation Board to demolish the building 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.
At the Lincoln, Williams-Sonoma and Pottery Barn will be part of a a 210,000 square-foot, mixed-use complex one block north of Lincoln Road. The six-story building has 120,000 square feet of Class A office space, 40,000 square feet of ground-floor retail and a connected, six-level parking garage. Designed by Arquitectonica, it is owned by a public/private partnership with the city of Miami Beach, according to the Lincoln’s website. Public records show the private entity as New York-based Real Estate Capital Partners.
The two home goods retailers are part of a wave of new leases in the Lincoln Road area. Alex and Ani, the jewelry and accessories brand, will open by late this year at 541 Lincoln Road, TRD recently learned.
Anthropologie just signed a 12,000-square-foot lease to move to a new three-story building Terranova Corp. is developing at 801 Lincoln Road, TRD also learned. The building will be built on Meridian Avenue, the current site of Abuela’s and Deco Drive Cigars, near Dylan’s Candy Bar. The property is one of two that Terranova is developing, geared to expand the Lincoln Road shopping district to 17th Street. Terranova’s other building, at 723 Lincoln Lane, will have 42,000 square feet alongside Macy’s, and will be the site for Marshalls.