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Miami Trophy Retail Sells at Auction

  • Jul 27, 2021
  • Marketplace Closings

226 Lincoln RoadMIAMI, FLORIDA, Tuesday, July 27, 2021 -- RI Marketplace (Marketplace) is pleased to announce that 226 Lincoln Road in Miami, Florida has closed. The property sold in Marketplace’s online auction on May 5th drawing 15 bidders and selling at 110% of the reserve price. CBRE’s Adam Sklaver and Phil Kates led a team of brokers alongside Marketplace in the transaction.

The retail asset encompasses 7,762 square feet of space sitting between Collins Avenue and Washington Avenue, just one block from the renowned South Beach district. The property’s neighboring retailers include national brands, H&M, CB2, Anthropologie, Pottery Barn, and Nike, among others. 

226 Lincoln Road is one of several trophy assets going to auction on Marketplace, a sign of the changing perception of auctions f previously used primarily to dispose of distressed assets. Marketplace is seeing an influx of high-end properties in top markets including New York, Chicago, and Miami.

226 Lincoln Road is accompanied by several other assets coming to auction on Marketplace including a residential asset in New York City’s Upper East Side, an office and development site adjacent to O’Hare International airport, and 230 Lincoln Road, a 51,493 square-foot retail property that sits directly next to 226 Lincoln Road.

For more information on assets coming to auction, visit rimarketplace.com.