The company has opened a new location in one of Miami Beach’s premier shopping strips and it spans 7,500sq ft on Lincoln Road.
After relocating from a nearby site, Victoria’s Secret secured a 12-year lease with Alta Real Estate Funds. The flagship’s opening follows six 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,” said 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.”
At the end of its most recent quarter, Victoria’s Secret had a total of 1,387 stores, including 772 company-operated locations. Meanwhile, Alto’s portfolio includes 79 properties and over 15 million square feet, with a focus on logistics centres and open-air retail.
