1111 Lincoln's retail space has full glass storefronts, high ceilings and suite depths that are ideal for today's tenants. The office space, which features a renovated lobby and onsite amenities, can accommodate either traditional or open-office configurations with ceiling heights up to 14 feet and unobstructed view corridors of Miami Beach and Lincoln Road. A seven-level exposed concrete structure features retail space, parking and a unique open-air event space.

“Miami continues to be a top US population and job growth market and an established 'gateway' city with good long-term growth prospects,” says Alexander Tannenbaum, managing director at Universal-Investment in charge of the Real Estate division. “The densely populated Miami Beach is a popular tourist destination that has provided retailers with robust year-round demand. This market is expected to be further enhanced when the nearby Miami Beach Convention Center redevelopment and expansion is completed later this year.”

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.

“We see great opportunity with this newly redeveloped, one-of-a-kind property in the Miami market,” says Sziklas. “This represents experiential retail at its best. 1111 Lincoln is well-suited to a changing retail environment, and we look forward to working to enhance it further through our active asset management approach and our international platform.”

1111 Lincoln's retail space has full glass storefronts, high ceilings and suite depths that are ideal for today's tenants. The office space, which features a renovated lobby and onsite amenities, can accommodate either traditional or open-office configurations with ceiling heights up to 14 feet and unobstructed view corridors of Miami Beach and Lincoln Road. A seven-level exposed concrete structure features retail space, parking and a unique open-air event space.

“Miami continues to be a top US population and job growth market and an established 'gateway' city with good long-term growth prospects,” says Alexander Tannenbaum, managing director at Universal-Investment in charge of the Real Estate division. “The densely populated Miami Beach is a popular tourist destination that has provided retailers with robust year-round demand. This market is expected to be further enhanced when the nearby Miami Beach Convention Center redevelopment and expansion is completed later this year.”