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Announcement

Ritz Carlton retail floor Walgreens on Lincoln road hits the market at $78.8 million!!!

By
Cashflow In Miami
on
July 18, 2020

1669 Collins ave , Miami Beach

Ritz Carlton retail floor Walgreens on Lincoln road hits the market at $78,8 million!

Does it mean South Beach Ritz Carlton is going for sale?? Its been closed since hurricane Irma over 1,6 years ago.

The offering is a long-term leasehold interest with over 100 years remaining on the ground leaseWalgreens is committed to an absolute net lease that has over 21 years remaining on the base term and includes 10 five-year options with rare 10 percent rent increases every 10 years, including option periods,” added Raymond Jonna. “The current rent is well below market-rate. The property’s irreplaceable urban-core location puts it in an excellent position to grow with rents and inflation for generations to come.”Situated at intersection of Collins avenue and Lincoln road this one is for sure one trophy asset!!

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