551 Lincoln Rd, Miami Beach, FL

Lincoln Theatre

Asset description

Jones Lang LaSalle (“JLL”) is pleased to present the opportunity to acquire 551 Lincoln Road-Lincoln Theatre, a globally architecturally significant property located at the intersection of Lincoln Road and Pennsylvania Avenue along one of the most dynamic and well known retail districts in the nation. The Property was designed in 1935 by famed cinema architect Thomas Lamb in the classic art-deco style that signifies Miami Beach. Formerly home to the New World Symphony orchestral Academy, 551 Lincoln was completely reimagined by current ownership in 2012, transforming this cultural landmark into one of Miami’s most recognized retail projects. The property totals 35,240 square feet that is currently 98.7% leased to a diverse tenant roster led by H&M, Swatch, Chilli Beans, and Tapelia Spanish Cuisine

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Attributes

Building area net

35,240 sf

Occupancy

98.7%

Year built

1935

Land area net

0.36 acres

WAULT

2.9 years

Media

Investment highlights

LANDMARK ASSET ALONG COVETED LINCOLN ROAD
NATIONALLY SIGNIFICANT TENANCY
DOMINANT GLOBAL FASHION ANCHOR
STRONG NOI GROWTH PROFILE
LINCOLN ROAD RENAISSANCE
BELOW REPLACEMENT COST
LINCOLN ROAD IS MIAMI’S MOST HEAVILY TRAFFICKED RETAIL DISTRICT
TRANSFORMATIVE DEVELOPMENT IN THE IMMEDIATE VICINITY + GAME-CHANGING CONVENTION CENTER HOTEL
SURGE IN WEALTH MIGRATION WITH $4 BILLION IN SURROUNDING NEW LUXURY RESIDENTIAL DEVELOPMENT