written by on 8th November 2022
  • www.miamitodayepaper.com


Lincoln Road ready for retail revival

With 16 new-to-market retail and restaurant tenants, 12 under-development stores, and more foot traffic than other Miami-Dade County destinations, Lincoln Road has been successful and poised for its retail revival.

According to the Lincoln Road Business Improvement District (BID), the Lincoln Road District has a storefront occupancy rate of 85%, reflecting currently occupied and leased stores. In the past 12 months, 16 new tenants have been opening in the area, of which 14 are new-to-market operators.

Foot traffic recorded by the analytics tool Placer.AI showed Lincoln Road reaching nearly 8 million walking visits in the past year, compared to 4.1 million with Miami Design District, 3.9 million with Brickell City Center and Wynwood’s Second Avenue More than other destinations. Lincoln Road with 3.7 million per bid.

In October, Chinese fashion brand Yoyoso took over 5,600 square feet at 1111 Lincoln Road. Barcelona-based fashion retailer Mango also opened a 4,628-square-foot store at 1036 Lincoln Road. Furniture and home decor store West Elm now occupies 10,237 square feet in this area as well.

On the restaurant side, Andres Carne de Res, a popular Colombia restaurant, is making its US debut at 455 Lincoln Road. The Colombian restaurant will occupy approximately 5,000 square feet in a two-story building with a rooftop deck where 5 Napkin Burgers was from 2015 before the space was vacated. Construction is set to begin soon, according to Lincoln Road BID.

In addition, the Cheesecake Factory is signing a lease at 600 Lincoln Road, Salt & Straw is also to open at 749 Lincoln Road, and New York-based Mexican taqueria Tacombi recently opened at 1688 Meridian Avenue. and 2,800 square feet on lease.

In addition, 12 stores are currently under development for leasing to new-to-market tenants, including Toronto-based Lighthouse Immersive, the company running the Van Gogh Immersive Exhibit nationwide, a 23,000-sq. virtual display with the construction of a restaurant. Paul’s Bakery and Time Out Market used to be a 1940s beach house, which has been vacant for more than 20 years. The developers are currently working on its design.

Following the successful Fernando Botero sculpture exhibition in Lincoln Road, which was unveiled in 2019, Lincoln Road BID is bringing another display of 12 sculptures by French artist Richard Orlinsky, unveiled on 30 November just before Art Basel Have to go, said Lyle. Stern, Bid Speaker. At the same time a space for a pop-up gallery is also to be opened at 801 Lincoln Road.

Peekaboo Art Gallery, a cooperative of local artists with 12 individual studios led by artist Jayda Knight, is hosting another season of The Black Plum Room, the digital works of four artists “to create and virtually work in real life”. Beaches offer their own explorations,” according to Miami Beach Arts & Culture.

This year, New York City’s Urbanspace is bringing its Holiday Market to Lincoln Road, where about 150 local vendors showcase their products from November 15 through February 15.

“Urbanspace is so famous for the millennial artists they put in New York, the largest is in Bryant Park – and it’s fantastic,” said Mr. Stern. “They were looking for a site outside of New York. We reached out to them, and when they looked across South Florida they liked Lincoln Road, and we made a deal with them.

Some of South Florida’s gastronomic brands to be featured include Watsons Bay Coffee Company, Miami ‘n’ Ice and Wicked Bread. Other national brands are Lux Lobster, Mozzarepas, and Oyster Party, Pored Loved Candles, Zahi Jewellery, accessories brands Pavies, and Gabriela Ceballos Jewelry.

According to Lincoln Road BID, Lincoln Road has also seen nearly $6 billion in real estate and hospitality investments in the area, as Class A offices and storefronts are being leased. An example of this is developer Michael Shaw, who submitted three proposals to the city.

The first, The Alton, will be a six-story, 250,000-square-foot Class A office and commercial space at 1656–1680 Alton Road and 1677 West Avenue, designed by Norman Foster of Foster & Partners and Coby Karp Architects. The project is under development and is expected to be built in 2025.

Another Class A office building is a sound park, six-floor, 52,500-square-foot development to be designed by Peter Marino and Kobi Karp Architecture, expected to be built in 2024 and is under development. The building is to be held at 1665-1667 Washington Avenue.

Finally, Michael Shavo also plans to redevelop the 313,000-square-foot 1940 Rosewood Hotel and Residence at 1775 Collins Avenue into The Raleigh. The project is a 60-room and suite hotel and 44 residences managed by Rosewood. Accommodations are to be in the newly constructed 17-storey oceanfront tower.

He has also filed plans for the redevelopment of the iconic Lincoln Road Clocktower Building at 407 Lincoln Road.

“What we have tried to do,” said Mr. Stern, “is to reach every part of the culture of the community – music, art, retail, food – at all different levels and price-points so that our street offering is truly democratic. From amazing art installations to great street food to high-end dining experiences, there is something for everyone.

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