Miami-based real estate investment firm Torose Equities has closed on the acquisition of 910 Lincoln Road in Miami Beach.
The approximately 8,700-square-foot retail property is strategically located on the world-famous pedestrian Lincoln Road, offering a rare value-add opportunity in one of the most sought-after retail corridors in the United States.
910 Lincoln Road marks another significant acquisition for Torose Equities, further solidifying its presence in key target markets. The flagship retail space aligns with Torose’s focus on value-add urban retail, office, and mixed-use properties in the Southeastern United States.
“This acquisition represents a unique opportunity to add a trophy asset to our growing portfolio,” said Scott Sherman, Founder & Principal of Torose Equities. “Despite current market uncertainties, we remain bullish on the long-term prospects of high-street retail in premier locations like Lincoln Road. Our acquisition of 910 Lincoln Road at a favorable basis positions us strategically within one of the nation’s most iconic and coveted retail corridors, offering significant potential for value creation and long-term appreciation.
“What’s particularly exciting is that we are jumping back into Lincoln Road at the perfect time. With the convention center renovation complete, a new convention center hotel development on the horizon, and an influx of new restaurants, we are bullish on the future of Lincoln Road. I was investing in this street 15 years ago and was an original member of the Lincoln Road Business Improvement District when it was founded. It’s thrilling to be back on the street and part of its resurgence.”
Located in the heart of South Beach, 910 Lincoln Road benefits from its prime position in a world-renowned shopping, dining, and entertainment district. The property is surrounded by high-profile retailers such as Apple, Nike, Victoria’s Secret, Urban Outfitters, CB2, and Sephora, popular restaurants, and tourist destinations, ensuring consistent foot traffic and visibility. The single-tenant building is currently 100% occupied by high-end clothing brand AllSaints.
The Miami Beach retail market continues to demonstrate strong fundamentals, with average submarket occupancy currently at 95%. The area has experienced significant rental rate growth over the past decade, up over 31% since 2013, with net absorption of over 98,000 square feet in 2022. Known as America’s Riviera, Miami Beach attracts a diverse and affluent population with its outstanding quality of life, cultural attractions, and world-class dining and shopping. The city boasts over 91,000 full-time and 100,000 seasonal residents, and it welcomes millions of visitors annually.