Friday, December 21, 2012

Terranova Corp, Acadia Pay $139M for South Beach Retail Portfolio




National Commercial Real Estate News From CoStar Group





Terranova Corp, Acadia Pay $139M for South Beach Retail Portfolio



A joint venture of Terranova Corporation and Acadia Realty Trust acquired a retail portfolio on Lincoln Road in Miami Beach, FL from South Beach Tristar Capital for $139 million, or more than $2,600 per square foot.

The portfolio totals 53,260 square feet and spans 719 - 838 Lincoln Rd. in the heart of Miami's famed South Beach retail corridor. The center is fully leased to credit tenants including Aldo, Solstice, Tiramesu, Fossil, Kiehl's, SOBE...






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