The Real Deal Miami

Posts Tagged ‘lincoln road’

  • Aerie’s first standalone store in South Florida to open on Lincoln Road in bebe’s current site

    The brand wanted a flagship location on Lincoln Road near its parent American Eagle
    April 06, 2017 02:15PM

    900 Lincoln Road and from left, Aaron Butler and Steve Asch

    Aerie, a lingerie retailer owned by American Eagle, has signed a lease to open its first standalone store in South Florida on Miami Beach’s Lincoln Road, The Real Deal has learned. [more]

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  • Thor Equities leases Lincoln Road spots to Steve Madden, Haagen-Dazs

    Asking rents were $300 per square foot
    March 29, 2017 04:00PM

    667, 665 and 663 Lincoln Road and Joe Sitt

    Thor Equities has signed leases with Steve Madden and Haagen-Dazs for two adjacent spaces on Lincoln Road, bringing its holdings on the pedestrian promenade to fully leased, The Real Deal has learned. [more]

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  • Time Out Market gets narrow vote of approval from Miami Beach Historic Preservation Board

    Board divided over impact of proposed gourmet food hall to the neighborhood
    March 13, 2017 05:15PM

    Rendering of Time Out Market and Paul Cejas

    After more than two hours of contentious debate, the Miami Beach Historic Preservation Board on Monday allowed the developer to apply for permits for the proposed Time Out Market at 1601 Drexel Avenue, on the ground floor of a parking garage, just around the corner from Lincoln Road. [more]

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  • Time Out Market, a gourmet food hall, coming to Miami Beach

    Board signed off on plans for eatery on ground floor of parking garage adjacent to Lincoln Road
    March 01, 2017 03:00PM

    Rendering of Time Out Market at 1601 Drexel Avenue and Paul Cejas

    More dining options are in the works for Miami Beach residents and visitors near Lincoln Road, with Time Out Market, a gourmet food hall, opening soon. [more]

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  • Most Lincoln Road cafes cited for too many outdoor tables win appeals against Miami Beach

    Even Pizza Rustica, which had lost its appeal, has requested a rehearing
    February 03, 2017 04:00PM

    Pizza Rustica on Lincoln Road

    What a difference a few weeks make: Most of the 13 Lincoln Road operators given suspensions last month for allegedly putting out too many tables and chairs at Halloween have had their violations dismissed and the rest are still pursuing their appeals. [more]

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  • 605 Lincoln Road retail space hits the market, could fetch $30M

    Tenants include Starbucks, Journey's, Oakley, and sub-tenant Lush
    January 25, 2017 04:30PM

    605 Lincoln Road retail space and Luis Castillo

    The ground-floor retail space at 605 Lincoln Road in Miami Beach has just hit the market, and could fetch $30 million, The Real Deal has learned. [more]

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  • Pizza Rustica, other Lincoln Road restaurants face sidewalk permit suspensions

    13 alleged violators are fighting 20-day revocations for adding tables and chairs on Halloween
    January 04, 2017 05:20PM

    Pizza Rustica on Lincoln Road

    More than a dozen Lincoln Road restaurants’ owners and representatives are crying foul over a recent city of Miami Beach crackdown on unpermitted outdoor tables and chairs during Halloween.
    [more]

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  • Wexler family wants $5M per year for Lincoln Road corner lease

    Land has zoning for up to 80,000 square feet of development
    November 18, 2016 09:45AM
    200 Lincoln Road and Robert Wexler (Credit: Getty Images)

    200 Lincoln Road and Robert Wexler (Credit: Getty Images)

    Lincoln Road’s notorious Alvin’s Island beachwear shop could be headed for the wrecking ball.

    The Wexler family is offering Alvin’s home at 200 Lincoln Road as a long-term land lease, opening the door for possible redevelopment. [more]

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  • Lincoln Road is still country’s fourth-priciest retail market — but for how long?

    Pressure to cut costs and heat from Wall Street have helped put Lincoln Road on edge
    November 17, 2016 03:00PM
    Lincoln Road (Credit: Phillip Pessar) and Greg Masin

    Lincoln Road (Credit: Phillip Pessar) and Greg Masin

    A flurry of investment deals over the last year helped propel Miami Beach’s Lincoln Road toward the forefront of North America’s most expensive retail markets.

    But a new report from brokerage Cushman & Wakefield shows the street’s meteoric rise has leveled off amid a changing retail landscape. [more]

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  • After blowout deal and peak rents, Lincoln Road is on edge

    Industry pros say the leasing market has softened along Miami’s popular retail road
    October 26, 2016 08:45AM

    Licoln-Road-1

    From the fall issue: A year after Spanish billionaire Amancio Ortega made a record-shattering purchase on Lincoln Road — paying $370 million for an entire block — some of the enthusiasm for the retail district has waned.

    “Two years ago, we were showing space on Lincoln Road every day,” said Stephen Bittel, chairman of Terranova, the largest retail property owner on the street. “Now it’s twice a week.”

    Justin Greider, a vice president at JLL, echoed the sentiment, saying that vacancies are taking longer to get leased up, with some spaces sitting empty for up to 15 months. And some lingering vacancies remain, particularly on the east end of the popular retail street.

    Owners have been dropping asking rents, which have declined to about $275 to $325 per square foot, down from $350 to $450 at the start of the year, according to Greider. That followed a long streak of rising rents dating back to 2010.

    “If anything, supply is greater than demand right now,” said Drew Schaul, an executive vice president at RKF who represents several properties on Lincoln Road.

    For the moment, though, there’s still plenty of money pouring into the fashionable Miami Beach shopping district. The area is still a very attractive location for retailers, said Manny De Zarraga, an executive managing director at HFF. He ranked it among the top shopping, dining and entertainment districts in the world because of the volume of visitors.

    “Ten million people may walk Lincoln Road a year,” he said. “It’s tough to find even regional malls that come close to that traffic.” [more]

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