Victoria’s Secret Moving Across the Street on Lincoln Road in Miami Beach
By Julia Echikson September 16, 2024 1:15 pm
reprints
Victoria’s Secret is going down a couple of sizes on Miami Beach’s Lincoln Road. The lingerie retailer signed an 8,000-square-foot lease at 900 and 904 Lincoln Road.
The store, which will also include Victoria’s Secret’s Pink brand, is scheduled to open next summer, according to Colliers (CIGI), which represents the landlord, Alto Real Estate Funds. The asking rent stood at $250 per square foot, triple net.
The retailer is downsizing from its current 12,000-square-foot store that’s just across the street at 901 Lincoln Road.
The new 12-year lease comes as Victoria’s Secret tries to shed its ultra-sexy image, following the Me Too movement and scandals relating to former CEO Lex Wexner’s close relationship with Jeffrey Epstein, a convicted sex offender who died in jail in 2019 while awaiting trial on sex trafficking charges.
After a five-year hiatus, the company is relaunching its live runway show in October. Last month, the board appointed Hillary Super as CEO, who previously led Rihanna’s lingerie brand Savage X Fenty.
On Lincoln Road, Alto Real Estate Funds purchased the 9,046-square-foot building for $18.9 million three years ago, according to property records. American Eagles’ Aerie and fast-fashion brand Express previously occupied the two-story property.
Colliers‘ Jonathan Carter and Ryan Brodsky represented the landlord in the Victoria’s Secret transaction. Brandon Nocella of Strategic Retail Advisors, who declined to comment, represented the tenant.
A representative for Victoria’s Secret did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
