Comras Co. acquired five buildings along the Lincoln Road pedestrian mall for $130.8 million and planned to renovate them. The South Florida Business Journal reports they last sold for a combined $342 million in 2014.
The sellers were Morgan Stanley Real Estate Advisor and Terranova Corp.
Acore Capital Mortgage provided a $81.77 million loan to the buyer.
The property consists of 155,211 square feet of commercial space on 2.03 acres.
600 Lincoln Road is currently occupied by a Cheesecake Factory restaurant, while 723 N. Lincoln Lane is home to The Lincoln Eatery, a 9,600-square foot food hall featuring more than a dozen vendors. Most of the other retail spaces are vacant.
Michael Comras added, “The goal is to put together…40 like-minded retailers, cafes and lifestyle uses, creating a micro-village at the heart of Lincoln Road, where I’ll be able to curate and merchandise it effectively.”
Mike Boyd, Florida & Gulf Coast
Read more here: Florida&GulfCoast.com
