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Two office buildings near Lincoln Road sell for $48.75 million

MIAMI HERALD — July 15, 2016 — BY CHABELI HERRERA. An affiliate of Miami Beach-based commercial real estate firm Terranova Corp., Beach Tower LLC, has sold two office buildings a block north of Lincoln Road for $48.75 million, furthering the firm’s goal of expanding the promenade to 17th Street.

Ivy MBT Property has purchased the buildings from Beach Tower LLC, which purchased the properties at 1674 and 1688 Meridian Ave. in 2004

Nearby, Terranova is also developing two three-story buildings — at 723 Lincoln Lane and 801 Lincoln Road — into retail projects with Marshalls and Anthropologie as anchor tenants.