Miami Condo Market and Lifestyle Updates
Lincoln Road Properties Are Selling to Investors Everywhere

Lincoln Road Properties Are Selling to Investors Everywhere

by Sep Niakan | December 12, 2014

Many properties have recently been trading hands on Lincoln Road, and some say it is investors putting their money in prime retail sites in key markets in the United States.

CoStar, a real estate research company, shows in a report that two out of the three Miami-Dade County retail sales deals that were above $3,000 per square-foot since August 2014 were on the South Beach block.

The first of these transactions was the $342 million sales of a six-property Lincoln Road collection held by Terranova and Morgan Stanley Real Estate Investing. The second was the $88 million purchase of the ArtCenter South Florida building on Lincoln Road by TriStar Capital and RFR Holdings. The third was the sale of a Wendy’s fast food restaurant in Edgewater for $12.5 million.

“With the influx of wealthy foreign nationals and investors from the Northeast and Midwest U.S., Miami is now one of these cities that are a magnet for the rich from all over the world,” Neisen Kasdin, office manager for Miami’s branch of Akerman law firms, said, “Lincoln Road now enters the ranks of the being one of the most important retail streets in the country, along with North Michigan Avenue in Chicago and Rodeo Drive [in Beverly Hills], achieving rents of $350 a square foot and sales of over $4,000 a foot.”

 

Source: therealdeal.com

Photo credit: Lincoln Road miamihabitat.com

Recent posts

Real Estate News

Could Cite in Edgewater Have New Hotel Neighbor?

by Sep Niakan | January 12, 2017

According to thenextmiami, a petition involving a 15 by 75 feet alley has sparked speculations that a brand new hotel could be coming to Edgewater. Why? Simply because this alley comes attached to a 7,875 sq. ft. plot located at 348 Northeast 20...

Real Estate News

Brickell Avenue Bridge Schedule, Traffic and Solutions -- All You Need To Know

by Sep Niakan | January 09, 2017

Ever tried driving from Brickell to Downtown Miami for lunch? Most Miamians dread the thought of catching the dreaded drawbridge, which opens every hour or half-hour during non-curfew hours to allow river traffic to pass under. So what’s...

Real Estate News

9 Positive Signs for the Miami Real Estate Market in 2017

by Sep Niakan | January 08, 2017

Last year’s headlines weren’t too kind to Miami with hurricanes, Zika warnings and falling sales painting a dark picture. However, with the elections finally done with, there are plenty of reasons to be optimistic about 2017: 1. ...

Real Estate News

Projects That Will Change the Way We Look at Wynwood, Forever!

by Sep Niakan | December 28, 2016

We all know Wynwood as the friendly, hipster neighborhood splashed with the best street art in the world. It’s where we all go for our art fix, browse far-out finds and linger around for a couple of craft beers. But, how about shopping,...