Miami — Victoria’s Secret has opened its new flagship store in Miami Beach, Fla., marking a bold new chapter for the brand. After relocating from a nearby site, Victoria’s Secret secured a 12-year lease with ALTO Real Estate Funds.
ALTO acquired the retail asset 4 years ago, during the height of the pandemic. Today, with Victoria’s Secret anchoring the location, the property reflects the Lincoln Road corridor’s resurgence and long term growth. The flagship’s opening follows 6 months of extensive preparations and represents a major milestone for both the retailer and Miami’s vibrant shopping district.
“ALTO invests strategically in properties that elevate our portfolio, and Lincoln Road exemplifies such an asset,” says Yaniv Melamud, co-founder and CEO of ALTO Real Estate Funds. “This long term lease with Victoria’s Secret reinforces the value of this prime location and strengthens our presence on one of the most prestigious retail streets in the United States.”
Lincoln Road is currently experiencing more than $3 billion in luxury residential and hospitality investment, including ultra-luxury residences and new and restored luxury hotels.
For more than 15 years, ALTO Real Estate Funds has been seizing opportunities in high-growth U.S. markets. The firm has built a $1.8 billion portfolio spanning 79 properties and over 15 million square feet. For more information, visit www.alto-investments.com.
SOURCE: ALTO Real Estate Funds