Amazon will open a store on Lincoln Road, as brick-and-mortar retailers nationwide struggle to pay rent during the pandemic.
Amazon is leasing 5,000 square feet at 700 Lincoln Road in Miami Beach for a 4-Star location, which means it will sell products rated four stars and above by Amazon customers, as well as new and trending products, according to a spokesperson for the Lincoln Road Business Improvement District. Amazon has 11 4-Star stores in California, Colorado, Massachusetts, Illinois, New York, Washington and Texas.
Three are planned in Florida, including on Lincoln Road, at the Gardens Mall in Palm Beach Gardens, and one in Orlando, according to its website.
Property records show Seven Hundred Realty Corp. owns the Lincoln Road building. The company is led by Nathan Silverstein.
Some more changes are in store for Lincoln Road. Steve Madden did not renew its lease at 663 Lincoln Road, and Kiehl’s closed its location at 540 Lincoln Road permanently, according to a sign posted on the door.
New York City retailer Showfields will bring an indoor and outdoor food concept, a speakeasy bar, a theater for live performances, a tattoo parlor, piercing stations and space for art installations to a two-floor, 14,300-square-foot space at 530 Lincoln Road. And Dr. Martens is also planning to open on the popular pedestrian street, according to the spokesperson for the Lincoln Road BID.
RE Miami Beach first reported the Amazon lease.
In May, national retailers paid 60.1 percent of rent, a small increase from April’s 56.7 percent collection rent, according to a report from the data firm Datex Property Solutions.