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.
realestate
Alo Yoga expands retail presence with $17M South Beach property purchase
Alo Yoga Founders Expand Retail Portfolio with South Beach Condo Acquisition.
Read More - realestate
realestate
Developer Extell Faces Lawsuit Over Unpaid Legal Fees in Condo Dispute
Extell Development faces new lawsuit over unpaid bills for Lincoln Square project.
Read More - realestate
realestate
Skokie developer shifts focus from apartments to retail properties
Skokie Real Estate Developer Scales Back Plans, Drops Residential Complex for Retail Development
Read More
realestate
Luxury Florida Estate Returns to Market at $59.5 Million Price Tag
North Palm Beach mansion spans 18,852 square feet on 2.9 acres of Seminole Beach land.