GLT Group Brokerage Arranges $19 Million Sale of Retail Building on Lincoln Road, South Beach, FL

   

900 – 904 Lincoln Road, Miami Beach, FL

MIAMI, FL— GLT Group Brokerage announced the sale of 900 and  904 Lincoln Road, in an off market transaction. The 7,142- square foot corner building is located at one of the country premier retail high streets. 

The building was traded for $18,900,000 ($2,646/SF), Aerie intimate apparel, a subsidiary of American Eagle Outfitters is the tenant.  

 

 Amancio Ortega 

GLT Group Brokerage represented the seller,  Gombinski Properties Ltd and procured the buyer, a foreign investment fund, ALTO Real Estate, since inception it has acquired 63 properties with a total value of $1.2 billion and currently manages 12 million SF in the USA.

 The building is located one block from Zara funder Spanish fashion billionaire Amancio Ortega retail buildings which traded in 2015 for $370 Million. 

Sean Shahar and Ran Ziv

 “The high street retail in South Florida is due to a healthy rebound after covid-19 as the US opens up, says Sean Shahar Ziv CEO of GLT Group. 

  "Domestic and foreign tourist continue to flock to South Florida, pre –covid Lincoln Road received 11 million visitors a year making it one of the most heavily trafficked destinations in Miami, we anticipate things to get back to normal in the coming year.” 

 

For more information, please visit The GLT Group online at (www.thegltgroup.com).

  CONTACT:

Ran Ziv

rziv@thegltgroup.com

+1 (786) 860-5982

 

444 Brickell Avenue Suite 730 Miami, FL 33131 USA License FL SL3278866 License CA 01918311

+1 (786) 860-5982  Office +1 (858) 248-3980  US mobile rziv@thegltgroup.com www.thegltgroup.com