An 18,000-square-foot food hall will take over the former Time Out Market space, as part of a recent leasing surge on and near Lincoln Road.
The deals give a boost to an investor group’s thesis that Miami Beach’s pedestrian promenade is in for a comeback after it lost its footing for the better part of the past half decade.
Developer Michael Comras is among those staging Lincoln Road’s revival, paying $140 million for 11 storefronts in November and working on creating the NoLi District. While the city of Miami Beach is working on a $29.4 million infrastructure improvement project, the Lincoln Road Business Improvement District also is taking a lead role in the street’s comeback, including intensive marketing.
In the latest leases, City Food Hall will open this summer at 1601 Drexel Avenue, owned by an entity led by Paul Cejas, chairman of PLC Investments and former ambassador to Belgium.
Others on tap include seafood restaurant Cajun Boil, which is expected to open in a 4,600-square-foot space in the third quarter at 1688 Meridian Avenue; Negroni Caffe and Sushi Bar, which is to open in a 2,600-square-foot space this summer at 450 Lincoln Road; biohacking and restorative wellness center BioBliss, which is expected to open in a 2,500-square-foot space next month at 1109 Lincoln Road; and family-run Tuscan restaurant All’Antico Vinaio, which is to open in an 1,800-square-foot space this year at 647 Lincoln Road, according to a news release.
Also opening this year are Japanese clothing retailer Uniqlo, which leased 14,300 square feet at 530 Lincoln Road, as well as collectibles retailer Waxxed Sports Cards, Lucky Box Vending Machine and shoe store Steve Madden, which is returning to Lincoln Road.
The leases come after several openings over the past year, including by Mexico-founded sportswear retailer Culto Fútbol, which opened shop at 744 Lincoln Road in December ahead of the 2026 World Cup. Recent openings also included The Best Açaí, Greek frozen yogurt shop Myka, apparel brand Edikted and Japanese-Italian steakhouse SILK, according to the release.
Existing tenants are doubling down on their spaces, with Zara planning a larger flagship in the 400 block of Lincoln Road. Hoka is moving to a bigger 5,000-square-foot store at 700 Lincoln Road, while Guess and Kiko Milano are renovating their spaces.
Lincoln Road’s tumble started about a decade ago, when the promenade had some of South Florida’s highest asking retail rates at $325 a square foot. At the same time, districts such as Brickell, City Centre, the Miami Design District and Wynwood rose to prominence, creating competition for Lincoln Road.
Part of Comras’ plans for his properties is to turn a service alley and vacant storefronts from Lincoln Road to North Lincoln Lane into 1,500 linear feet of retail frontage with upgraded landscaping and new boutiques and cafés. The plan, which is part of Comras’ larger NoLi District revitalization, also includes renovations of the 719-737 Lincoln Road building that’s part of the Flamingo Park Historic District.
Shahab Karmely’s New York-based KAR Properties claimed its piece of Lincoln Road in April, paying $15 million for the AllSaints-leased retail building at 910 Lincoln Road. That same month, real estate broker and investor Aaron Butler bought a quarter-acre lot at 500 Lincoln Road, which has approvals for the development of a two-story, 20,000-square-foot project where Noble 33’s Mēdüzā Mediterranïa restaurant is expected to open.