Macy's Shopping Around Remainder of Lincoln Road Leasehold

Macys Miami Beach Lincoln Road

It's no secret that the major department stores are in for a major shake-up. The Real Deal is reporting that Macy's is quietly marketing the remainder of leasehold for their Lincoln Road location. The 98,610 SF at 1675 Meridian Avenue has 34 years left on the lease and could go for about $80 million. It is one of the largest retail spaces available in the area and it is reported that both Nordstrom Rack, HomeGoods, Saks Fifth Avenue OFF 5th and Old Navy have inquired about the space. HFF has the listing on the space. Macy's had reported earlier this year that they would be closing 100 stores, but would not comment on what would happen to the Miami locations.