For many Baby Boomers, and even some Generation X residents who grew up in Key Biscayne or the general Miami Metro area, the iconic Lincoln Road in Miami Beach brings back memories of weekend walks, dinners with friends, and evenings that often ended with a stroll to the beach after crossing Washington and Collins Avenue.
Now, Lincoln Road may finally be on the verge of a comeback after nearly a decade of soaring rents, business turnover and increasing competition from other Miami retail districts. Once the crown jewel of South Beach retail, the pedestrian promenade saw its popularity decline as leasing costs pushed out some local shops and restaurants and left vacancies across the corridor.
According to reporting from Commercial Observer, longtime Miami investor Michael Comras, who famously sold a full Lincoln Road block in 2014 for $370 million in one of the priciest real estate deals in county history, has returned to the strip as a buyer…