A
lo Yoga's founders Danny Harris and Marco DeGeorge have expanded their retail portfolio by acquiring a prime location in Miami Beach. An entity tied to Harris and DeGeorge purchased four commercial units on the first floor of The Decoplage condominium at 100 Lincoln Road for $17.3 million, according to records and real estate database Vizzda. The building was completed in 1965.
The purchase marks Alo Yoga's second retail acquisition in Miami-Dade County within a year. In November, an entity managed by Harris bought a 5,000-square-foot retail building in the Miami Design District for $22 million. The seller leased the store to Alo Yoga.
Alo Yoga is a yoga and workout clothing retailer with celebrity customers like Bella Hadid and Kendall Jenner. Harris and DeGeorge also own BELLA + CANVAS, a t-shirt manufacturing and wholesale company. The Decoplage purchase follows other recent retail deals on Lincoln Road, including Torose Equities' acquisition of a two-story storefront at a discount.
The seller of the Decoplage units, an affiliate of LoanCore Capital Credit Real Estate Investment Trust, acquired the 13,480-square-foot commercial space after securing a foreclosure judgment against the previous owner. The property had been vacant for several years and was previously leased to Walgreens.
