Los Angeles / Frankfurt am Main, July 7 2017
Designed by internationally acclaimed Herzog & de Meuron Architects, 1111 Lincoln is located at the entrance to a pedestrian-only retail promenade that is generally considered the premier shopping destination in Miami Beach and an important location for major global retailers given its visibility to tourists from across the world. The property comprises 94,488 square feet of office space, 51,839 square feet of retail space, and a 300-space parking garage/event space.
1111 Lincoln is generally considered the top office and retail property on Lincoln Road given its location, functionality and unique architecture and provides shoppers and office tenants with some of the best upscale retail and restaurant offerings along Lincoln Road. The retail space has full glass storefronts, high ceilings and suite depths that are ideal for today’s tenants. The office space, which features a renovated lobby and onsite amenities, can accommodate either traditional or open-office configurations with ceiling heights up to 14 feet and unobstructed view corridors of Miami Beach and Lincoln Road. A seven-level exposed concrete structure features retail space, parking and a unique open-air event space.
“We see great opportunity with this newly redeveloped, one-of-a-kind property in the Miami market,” said Stuart Sziklas, Managing Director for CBRE Global Investors-Americas. “1111 Lincoln is one of the most-recognized, best-located commercial properties in Miami Beach in one of the top retail districts in the country. This represents experiential retail at its best. 1111 Lincoln is well-suited to a changing retail environment, and we look forward to working to enhance it further through our active asset management approach and our international platform.”
“Miami continues to be a top U.S. population and job growth market and an established ‘gateway’ city with good long-term growth prospects,” said Alexander Tannenbaum, Managing Director at Universal-Investment in charge of the Real Estate division. “The densely populated Miami Beach is a popular tourist destination that has provided retailers with robust year-round demand. This market is expected to be further enhanced when the nearby Miami Beach Convention Center redevelopment and expansion is completed later this year.”
CBRE Global Investors is a global real estate investment management firm with $86.5 billion in assets under management* as of March 31, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.2 million insured persons in total, with yearly contributions of € 4.4 billion and € 3.2 billion in pension payments annually. It currently manages € 84 billion in assets on behalf of the pension schemes and has more than 1,200 employees. Bayerische Versorgungskammer is a signatory of the Charter of Diversity since 2010, the UN Principles for Responsible Investment (PRI) since 2011 and the Memorandum for Women in Leadership since February 2017. Visit www.versorgungskammer.de for more information.