Lincoln Theater Being Converted to Retail

MIAMI-The historic Lincoln Theater, near the city’s famous South Beach district, is being purchased by a private investment group for conversion to upscale retail space. The local office of Holliday Fenoglio Fowler LP arranged the sale by the New World Symphony to a partnership led by Savitar Realty Advisors. The sale closed Monday but the price was not immediately available.

The Lincoln, which opened in 1935 as a movie house in the Miami Beach art-deco zone, has been the symphony’s home for the past two decades. The 38,000-square-foot structure at 541 Lincoln Road is in the midst of one of the nation’s most successful pedestrian shopping areas.

The New World Symphony will vacate the theater later this year once its new $154-million campus is completed behind the building. The current theater includes administrative offices, practice rooms and a 704-seat performance hall.