Cheesecake Factory to Open on Lincoln Road in South Beach
By Mark Hallum February 23, 2022 5:01 pm
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The Cheesecake Factory is coming to one of South Beach’s most popular retail corridors.
The national chain signed a 20-year lease for 7,000 square feet at 600 Lincoln Road with plans to open in the fall, Terranova Corporation Chairman Stephen Bittel announced.
The company’s leadership promised to hire 200 people from the local community as staff.
The restaurant will add to the financial ecosystem of Lincoln Road, which is home to retail shops like H&M, Zara and Sephora as the local economy sees growth, Bittel said in a statement.
“Terranova will continue to support these trends by bringing a dynamic array of tenants and innovative projects that maximize value for stakeholders, create jobs and economic opportunities, and build a better community for all,” Bittel said in a statement.
Terranova declined to provide asking rents.
Cheesecake Factory was represented by Blatteis & Schnur, while Mindy McIlroy represented the landlord, a Terranova affiliate who acquired the property in 2014.
The property at 600 Lincoln Road, within a section of the Lincoln Road Mall, is just one asset in the South Florida commercial real estate firm’s portfolio. Recently, Terranova closed a $40 million refinancing deal of Palm Plaza near Miami Lakes, a 90,621-square-foot retail center.
The firm, with nearly $1 billion in equity, also owns 1654 Meridian Avenue in Miami Beach and 200-230 Miracle Mile in Coral Gables.
Mark Hallum can be reached at mhallum@commercialobserver.com.
