News from Net Lease Properties
The historic Lincoln Theatre has been sold to a partnership led by Miami-based Savitar Realty Advisors.
The 38,000-square-foot mixed-use property, located on the Lincoln Road pedestrian mall, will likely be converted into retail stores. Triple Net Lease Properties of Florida, has had it's eye on this location to pounce on a deal.
The property consists of administrative offices, practice rooms and a 704-seat performance theater that has been occupied by The New World Symphony as its headquarters for the past 20 years.
“Lincoln Road is in the midst of a renaissance, and this space is in a fantastic location.
Originally built in the 1930s as a movie house, the Lincoln Theatre is positioned in the protected art-deco architectural district of Miami Beach and is listed as a protected historic site under the National Register of Historic Places. Located at 541 Lincoln Road, the property consists of administrative offices, practice rooms and a 704-seat performance theater that has been occupied by the New World Symphony as its headquarters for the past 20 years.
There was no mention of the sales price for this transaction.
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