Terranova, Acadia Pay $139M For Miami Beach Shops

Law360, New York (December 19, 2012, 6:46 PM EST) -- Florida real estate investor Terranova Corp. and Acadia Realty Trust have scooped up three retail properties along Miami Beach's popular Lincoln Road for $139 million, Terranova confirmed Wednesday, in what could be the area's largest retail market deal of the year.

Per the deal, the venture is picking up about 60,000 square feet along one of the city's most lauded shopping strips, which includes properties occupied by watch and accessory retailer Fossil Inc., cosmetics company Kiehl's Inc., and sweets boutique Dylan’s Candy Bar LLC, according to...
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