MIAMI—1111 Lincoln, an iconic fully leased 146,327-square-foot mixed-use property in Miami Beach, FL has traded hands. CBRE Global Investors and German investment company Universal-Investment acquired the asset for the account of an investment fund established for Bayerische Versorgungskammer (BVK), one of Germany's largest institutional investors.

“1111 Lincoln Road is a truly exceptional property in a premier shopping destination,” Stuart Sziklas, managing director for CBRE Global Investors-Americas, tells GlobeSt.com. “The recently completed redevelopment creates an upscale experiential retail environment along with a gorgeous new office lobby. We think this architecturally unique property presents a great opportunity for our client.”

Designed by internationally acclaimed Herzog & de Meuron Architects, 1111 Lincoln sits at the entrance to a pedestrian-only retail promenade that is widely considered the premier shopping destination in Miami Beach. The property includes 94,488 square feet of office space, 51,839 square feet of retail space, and a 300-space parking garage and event space.