Marcus & Millichap Brokers Sale Of Vacant Retail Property In Miami Beach For $739 PSF
Drew Kristol and Kirk Olson exclusively marketed the property on behalf of the seller.
Drew Kristol and Kirk Olson exclusively marketed the property on behalf of the seller.
The eight-story property includes 111,400 square feet of office space, 26,700 square feet of ground-floor retail, and a 499-space parking garage.
“Now, we’re seeing new retail and dining concepts opening in the area, as well as established brands relocating and expanding into larger spaces, a clear sign that businesses see Lincoln Road as a place to invest, grow and connect with the community.”
Rentyl Resorts will oversee retail property management and guest experience operations.
Both professionals will report to Chris Drew, Senior Managing Director and Miami Office Head.
The proposed two-phase, mixed-use development will span more than three acres along Biscayne Bay.
The leases total 54,768 square feet, including restaurants, beauty and fitness services, fashion, home décor, and financial services.
South Pointe spans 7.84 acres and features 179 apartment units and 17,063 square feet of ground-floor retail space across three four-story buildings.
The college will consolidate its operations into a new 30,000-square-foot facility within the reimagined mixed-use development.
Jonathan De La Rosa, senior managing director of investments in Marcus & Millichap’s Miami office, procured the buyer in the transaction.
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