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February 23, 2011

Joint venture affiliates of Terranova Corp. and Acadia Realty Trust announced they have closed on the acquisition of three Lincoln Road properties in Miami Beach, Fla.

Miami Beach, Fla. -- Joint venture affiliates of Terranova Corp. and Acadia Realty Trust announced they have closed on the acquisition of three Lincoln Road properties in Miami Beach, Fla.

The approximately $52 million deal adds just over 61,000 sq. ft. to their urban street-front retail portfolios.

Current tenants at the properties include Starbucks, Geox Shoes, and Zagat-rated restaurants Sushi Samba Dromo and Tacontento. Terranova will manage and lease the Lincoln Road properties.