BH Properties Acquires Lincoln Center Retail Property in Miami Beach for $93.6M

Lincoln Center is anchored by an 18-screen Regal Cinema, the only movie theater in South Beach. The four-story property was 74 percent leased at the time of sale.

MIAMI BEACH, FLA. — BH Properties, a private real estate investment firm based in Los Angeles, has purchased Lincoln Center, a 129,360-square-foot retail destination in Miami Beach.

Vornado Realty Trust sold the asset to BH Properties, marking the firm’s entry to the Miami market. The sales price was not disclosed, but South Florida Business Journal reported the property traded for $93.6 million.

Built in 1999, the four-story building is situated on a full city block in the South Beach neighborhood along Lincoln Road, which is Miami’s high-street retail corridor. An 18-screen Regal Cinema, the only movie theater in South Beach, anchors the property. Regal recently extended its lease, according to BH Properties.

The asset was 74 percent leased at the time of sale to tenants including French apparel retailer Zadig & Voltaire, fine art gallery Romero Britto, Ben & Jerry’s, Doraku Sushi and restaurant Wok to Walk. The property also includes an attached, 291-space parking garage.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties