{"id":54315,"date":"2025-11-20T17:00:18","date_gmt":"2025-11-20T17:00:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/54315\/"},"modified":"2025-11-20T17:00:18","modified_gmt":"2025-11-20T17:00:18","slug":"comras-lands-117m-to-develop-micro-district-on-lincoln-road","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/54315\/","title":{"rendered":"Comras Lands $117M To Develop ‘Micro-District’ On Lincoln Road"},"content":{"rendered":"

Comras Co., led by Michael Comras<\/a>, is expanding its imprint on Miami Beach’s famed shopping corridor.<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Courtesy of 3D Design Plus Inc.\n <\/p>\n

\n The project will line Lincoln Road and North Lincoln Lane.\n <\/p>\n

Comras landed a $117M loan from Acore Capital<\/a> to acquire five properties along Lincoln Road and North Lincoln Lane, the developer announced Wednesday. It is planning to\u00a0reposition the buildings into\u00a0a 150K SF retail \u201cmicro-district\u201d dubbed NoLi.<\/p>\n

The project will feature 1,700 linear feet of retail, dining, wellness and lifestyle concepts, according to a release. The sale price for the properties was $140M, The Real Deal reported<\/a>, citing an unnamed source.<\/p>\n

\u201cLincoln Road has long been a landmark destination, and today there\u2019s a clear demand for renewed synergy and a cohesive vision that elevates the overall experience,\u201d Comras said in a statement.<\/p>\n

None of the buildings will be torn down. Instead, they will be repurposed to create retail spaces that span 400 SF to 4K SF.<\/p>\n

The developer plans to create a pedestrian passage that cuts through the 700 block of Lincoln Road and connects to North Lincoln Lane. The 18-foot-wide walkway\u00a0would be lined with storefronts and restaurants. The passage will lead to a courtyard with caf\u00e9 seating and a fountain in the center named NoLi Plaza.<\/p>\n

Comras would also turn North Lincoln Lane from a service alley into a pedestrian-forward street with new stores, wider sidewalks and outdoor dining.<\/p>\n

\u201cToday\u2019s market is about providing environments that foster a true sense of community, a place where people can come together, grab a coffee or juice, grab a workout, discover a boutique and just hang out,\u201d Comras said in a statement. \u201cWith one cohesive vision across over 40 continuous storefronts, we\u2019re creating an experience that resonates with both locals and visitors.\u201d<\/p>\n

Comras\u00a0has been a longtime developer of retail on the corridor, starting in 1999 when he purchased properties from 1001 Lincoln Road through 1035 Lincoln Road for $12M,\u00a0redeveloped them into an entire block and leased them out to Apple, Nike, Capital Bank and Gap. The parcel was sold in 2015 for $370M to Spanish billionaire and Zara founder\u00a0Amancio Ortega<\/a>, The Real Deal reported<\/a>.<\/p>\n

Across the street from its new development, Comras\u00a0owns 701 Lincoln Road, which houses sports brand Hoka and fashion retailer Akira, a corner set to bring major Mexican sports retailer Culto Futbol from Grupo Innovasport.<\/p>\n

The company, founded in 1992, has also developed shopping districts in Wynwood, Miami Design District, Coconut Grove, Downtown Miami, Coral Gables and East Las Olas Boulevard.<\/p>\n

Plans for the NoLi micro-district come as Lincoln Road is going through a new phase of development.<\/p>\n

The city of Miami Beach<\/a> has adopted a $29M redevelopment plan for Lincoln Road pedestrian mall by redoing walkways, new lighting, new street furniture and a fertilization system for the trees that line the street.<\/p>\n

At the Miami Beach Convention Center, a seven-minute walk away, Terra Group<\/a> and Turnberry<\/a> are building an 800-room<\/a>\u00a0Grand Hyatt Miami Beach hotel.<\/p>\n","protected":false},"excerpt":{"rendered":"Comras Co., led by Michael Comras, is expanding its imprint on Miami Beach’s famed shopping corridor. Courtesy of…\n","protected":false},"author":2,"featured_media":54316,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[33963,33960,123,1642,125,124,33961,33962],"class_list":["post-54315","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-acore-capital","tag-lincoln-road","tag-miami","tag-miami-beach","tag-miami-headlines","tag-miami-news","tag-michael-comras","tag-the-comras-co"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/54315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=54315"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/54315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/54316"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=54315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=54315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=54315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}