Colliers International continues leasing and management momentum at The Lincoln
Nearly 50% of the building’s office space was leased, while garnering a BOMA TOBY win
Miami, FL, May 23 2018 – The Colliers International South Florida leasing team led by Stephen Rutchik and Jonathan Kingsley has helped to secure more than 55,000 square feet of office leases at The Lincoln, following a change of ownership in 2016. The office portion of the mixed-use building is now 98.5 percent leased. The low vacancy rate at the six-story building, located steps from Lincoln Road, Miami Beach’s premier retail destination, is in stark contrast to the 7.4 percent overall vacancy rate of Miami Beach office inventory and 14.1 percent vacancy rate of Class A Miami Beach office buildings.
The Lincoln has seen brisk leasing activity over the past two years, including the addition of Wix.com, SBE Entertainment Group, Comcast, AR Capital, IRA Financial, and Creative Artists Agency as well as expansions/renewals from KNR Restaurant Group, Sliderz MG Inc, WMB Resources & JSK Partnership, Morabito Properties, Raymond James Financial and Beloff Law.
Colliers Executive Vice President Stephen Rutchik pointed to aligned goals, and close collaboration between ownership and the leasing and the property management teams, as well as "Ownership’s commitment to the asset" which will be seen in soon-to-be-unveiled renovations this year.
The Lincoln added retail amenities Williams-Sonoma, Pottery Barn and Hank & Harry’s Deli, all of which opened in 2017. Under the stewardship of Colliers International Real Estate Management Services, which provides property management services, The Lincoln was awarded a 2018 BOMA Miami TOBY award in the retail category. The honor recognizes properties that exemplify superior building quality and management practices.
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About Colliers International Group
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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For further information, please contact:
Paola Iuspa-Abbott on behalf of Colliers International South Florida
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