South Beach Mixed-Use P3 Hits the Market
- Sep 23, 2015
By Balazs Szekely, Associate Editor
The Lincoln in South Beach’s Art Deco District is currently 98 percent leased and listed for sale. The 210,000 square-foot mixed-use office and retail complex located one block north of Lincoln Road signed 48,648 square feet of office and retail tenants in the past six months. The office portion is completely leased to 33 office tenants, and the retail section is home to nine companies. The remaining vacancy is 3,567 square feet of street-level retail.
The leasing for the Class A building is handled by Executive Vice Presidents Stephen Rutchik and Jonathan Kingsley of Colliers International South Florida, who have had the assignment since mid-2008. The building is currently co-listed for sale by Christian Lee and Jose Lobon, of CBRE, along with Colliers’ Rutchik and Kingsley.
Designed by Arquitectonica, the building at 1691 Michigan Ave. is a public-private partnership with the City of Miami Beach. It includes 118,000 square feet of office space throughout six stories, 43,000 square feet of ground-floor retail space and a six-level garage with 709 parking spaces. Existing tenants like Morgan Stanley Smith Barney, Knight Capital, FTN Financial, Car Charging and Lucky Strike Lanes have renewed and expanded more than 21,000 square feet of leases at the Lincoln. New tenants include Blue Chip Wealth Management, Creative Artists Agency, Deco Capital, and Stewart Title Co.
Photo credit: Colliers International