Vornado Spends $132M For Spot On Miami's Lincoln Road

Law360, New York (July 6, 2012, 4:46 PM EDT) -- Vornado Realty Trust has entered the South Florida retail sector, adding a chunk of Miami Beach's Lincoln Road shopping district to its 29-million-square-foot retail portfolio in a deal valued at $132 million, the New York commercial real estate firm announced late Thursday.

The transaction gives Vornado 167,000 square feet of retail space on the western end of the Lincoln Road pedestrian mall, according to a statement from the real estate investor, cementing the city's reputation as a leader in the rebounding U.S. retail property sector....
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