HFF arranges sale of historic Lincoln Theatre along Miami Beach’s famed Lincoln Road Mall

MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged the sale of the historic Lincoln Theatre,(top left photo)  a 38,000-square-foot mixed-use property located on Miami Beach’s famed Lincoln Road Mall.

This transaction is scheduled to close February 1, 2010.

HFF executive managing director Manuel de Zárraga, managing director Danny Finkle (middle left photo)  and associate directors Luis Castillo and Jaret Turkell led the investment sales team on behalf of the seller, New World Symphony. A partnership led by Miami-based Savitar Realty Advisors purchased the property.

Originally built in the 1930’s as a movie house, the Lincoln Theatre is positioned in the protected art-deco architectural district of Miami Beach and is listed as a protected historic site under the National Register of Historic Places.

Located at 541 Lincoln Road, the property is situated on one of the “most unique and successful” pedestrian malls in the United States attracting millions of visitors each year with its art-deco architecture and world-renowned retailers, restaurants and hotels.

The property consists of administrative offices, practice rooms and a 704-seat performance theater that has been occupied by the New World Symphony as their headquarters for the past 20 years.

The New World Symphony will be vacating the entire building upon completion of their new $154 million campus (bottom right rendering), designed by the “world acclaimed” architect Frank Gehry, immediately behind the Lincoln Theatre.

“The Lincoln Theatre is an internationally significant landmark that will start a new chapter in the illustrious history of Lincoln Road, while complementing the new world-class home of the New World Symphony,” stated Finkle.

“We’ve seen the emergence of numerous retailers opening flagship stores on Lincoln Road that have never before had a presence in Florida” added Castillo. “Lincoln Road is in the midst of a renaissance of sorts and this space is positioned at the epicenter.”

Contacts:

Daniel Finkle, HFF Managing Director, (305) 448-1333, dfinkle@hfflp.com
Luis Castillo, HFF Associate Director, (305) 448-1333, lcastillo@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com