Lincoln Road, as a signal of strength for the CRE sector, is abuzz with activity. The Comras Company is responsible for a part of that. Right after the $370 million sale of the 1001-1035 Lincoln Road block front, they've wasted no time in beginning their marketing of 421 Lincoln Road for sale or lease (currently leased to Surf Style). With 10,042 s.f. on the ground floor, and 3,294 s.f. of additional space on the mezzanine, it would be ideal for either a large national retailer, or sub-divided into smaller retail units. There's more value to be had by the right newcomer, since the property comes with additional development rights to increase FAR and redevelop it to 29,000 s.f.
"This is a unique opportunity to purchase or lease a property with over 100 feet of frontage along both Lincoln Road and Lincoln Lane. Furthermore 421 Lincoln Road is one of the only properties with direct exposure to Sound Scape Park and is steps away from Zara's new flagship store, H&M, Forever 21 and the soon to be redeveloped convention center," says Michael Comras. He, along with Michael Silverman and David Goldberg, all of the Comras Company, are marketing the property.
Recently, the Lincoln Road Business Improvement District (BID) approved a new master plan by James Corner, Field Operations—the firm responsible for the Highline in New York City— to clean up Lincoln Road and improve Lincoln Lane's pedestrian access. The proposal plans to enlarge sidewalks, enhance the adjoining streets and add more public seats and outdoor space for art installations and publics performances.
· James Corner Field Ops Signed for Lincoln Road's Big Reno [Curbed Miami]
· Lincoln Road property owners to vote on business improvement district [The Real Deal]