PROJECT: LINCOLN ROAD GAP EXPANSION
A new, two-story flagship store for Gap is in the works at Lincoln Road Mall in Miami Beach.
The new 29,000-square-foot space will rise at 1001 Lincoln Road, where its store is currently located. Gap may operate out of temporary space during the construction and has another location on Collins Avenue in South Beach.
The clothing store will occupy about 20,000 square feet, with 9,000 square feet available for an additional tenant, according to a statement from Comras, which negotiated the long-term lease.
Comras President Michael Comras managed the transaction on behalf of the landlord, along with Jonathan Fryd.
“An incredible blend of design and destination, the new building will be a prime example of Miami Beach’s progressive design continuum which builds upon its storied past and vibrant future,” said Comras, in a statement. “Be it Lincoln Road or Collins Avenue, we continue to see national retailers understanding the robust shopping cadence of Miami Beach.”
Construction is set to start in early 2013 at 1001 Lincoln Road, which is part of the National Register of Historic Places’ Miami Beach Architectural District. The lead architect is Touzet Studio, which worked with Gap’s international architectural team on the project.
Comras said the new building will have a two-story rounded glass entrance and various features that pay homage to its 1950’s design origins. The features include a “MiMo” eyebrow cornice, louvered shades, a grand staircase as well as the retention of a monumental parapet wall, according to the statement.
Gap Inc. is a global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime and Athleta brands.
Lincoln Road Mall has been the focus of some hot transactions lately, including the sale of the Lincoln Center and movie theater at the west end of the mall for $132 million to an affiliate of New York-based REIT Vornado (NYSE: VNO). An H&M clothing store is also being built at the Lincoln Center, which is currently being renovated.