CBRE to Manage, Lease Miami Beach Asset

The mixed-use building recently changed hands, with CBRE Global Investors and Universal-Investment purchasing the property on behalf of Bayerische Versorgungskammer.

1111 Lincoln office and parking garage
1111 Lincoln office and parking garage

CBRE has been selected to provide property management and leasing services for a 146,327-square-foot, Class A mixed-use building in Miami Beach, Fla. The property, known for its parking garage designed by Herzog & de Meuron, encompasses 94,488 square feet of creative office space and 51,839 square feet of premier retail and restaurant space.

Located at 1111 Lincoln Road on the corner of Alton and Lincoln Road, the property recently traded in a $283 million deal. CBRE Global Investors and Universal-Investment acquired the fully leased asset on behalf of Bayerische Versorgungskammer, one of Germany’s largest institutional investors.

Skilled marketing team

CBRE General Manager Love Levy will spearhead management for 1111 Lincoln, while Todd Siegel, senior vice president, and Danny Diaz, senior associate, will oversee retail leasing at the property. Senior Vice President Diana Parker and Senior Associate Kevin Gonzalez will lead office leasing efforts on behalf of the new ownership.

“The CBRE team of leasing and management professionals will work in concert with the building’s Events Manager to develop programs designed to elevate the tenant experience at 1111 Lincoln and raise the bar of service for tenants on Miami Beach,” stated Parker, in prepared remarks.

Completed in 2010, the property underwent cosmetic renovations in 2017, Yardi Matrix shows. Current tenants include Douglas Elliman, Shake Shack, Viacom, Adidas, UIA Management and Ted Baker.

“Through the collaborative efforts of our leasing and management professionals, we look forward to executing a new vision for 1111 Lincoln and position the property as the destination for retail, restaurant and office tenants, as well as customers, locals and tourists on Lincoln Road,” said Patty Nooney, senior managing director of CBRE Asset Services, in a prepared statement.

Image courtesy of CBRE Global Investors