719–737, 801–821, 838 Lincoln Road
Property Highlights719, 801, and 838 Lincoln Road is a portfolio of high-street retail buildings along Miami Beach's Lincoln Road which is a pedestrian throughfare spanning almost a mile from east to west and generating foot traffic of approximately 5-10 thousand people per day. In 1998, Tricap acquired this portfolio for $15.75 million which, at the time, set a record on the road at $295 per square foot. Tricap was considered a pioneer at the time but saw the potential of Lincoln Road to become one of the country's great shopping streets alongside Madison Avenue, Michigan Avenue and Rodeo Drive.
Almost 15 years later, at the end of 2012, Tricap executed the sale of this portfolio for $139 million to a joint venture between Terranova Corporation and Acadia Realty Trust which was the highest per square foot and aggregate dollar amount sale in the history of Lincoln Road at the time.
Lincoln Road, Miami Beach, Florida