{"id":1004635572,"date":"2022-12-15T04:20:29","date_gmt":"2022-12-15T12:20:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004635572"},"modified":"2022-12-15T06:15:20","modified_gmt":"2022-12-15T14:15:20","slug":"shvo-gets-approval-to-renovate-landmark-miami-beach-office","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/","title":{"rendered":"SHVO Gets Approval to Renovate Landmark Miami Beach Office"},"content":{"rendered":"
\"407<\/a>

Rendering of 407 Lincoln Road redevelopment. Image courtesy of SHVO<\/p><\/div>\n

SHVO<\/strong> has secured the unanimous approval of the Miami Beach Historic Preservation Board for the revitalization of 407 Lincoln Road in Miami Beach, Fla., into a Class A luxury office property, the development and investment firm announced on Wednesday, Dec 14.<\/p>\n

SHVO\u2019s plans to revamp the 13-story building include a renovation of its clock tower, recladding of the building envelope, the addition of double-height loggias, as well as the addition of a rooftop with ocean views and wellness-focused amenities.<\/p>\n

\n

READ ALSO<\/strong>: Top 5 Southeast Markets for Office Deliveries<\/a><\/p>\n

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The redevelopment is being led by Foster + Partners<\/strong>, in collaboration with Kobi Karp Architects<\/strong>.<\/p>\n

In a prepared statement, Norman Foster, founder & executive chairman of Foster + Partners, highlighted the environmental benefit of significantly lowering the project\u2019s embodied carbon by retaining the building\u2019s existing structure.<\/p>\n

Only three months ago, SHVO released its plans for a 52,500-square-foot office, One Soundscape Park<\/a>, which will be barely a block east of 407 Lincoln Road. The project\u2019s architect is Peter Marino<\/strong>.<\/p>\n

Luxury rents<\/h2>\n

The Miami Beach submarket had the second-highest increase in asking rents in metro Miami, and has the third-highest asking rates (behind Wynwood and Brickell), at an average of nearly $70 per square foot, according to a third-quarter report from JLL<\/strong>. Further, Miami Beach has the metro\u2019s third-lowest overall vacancy, at 12.7 percent.<\/p>\n

The JLL report noted that numbers like these are driving development, including 1177 Kane Concourse, a 101,000-square-foot building in North Miami Beach, and Terminal Island Office Project, a 161,000-square-foot office building.<\/p>\n","protected":false},"excerpt":{"rendered":"

407 Lincoln Road marks the firm\u2019s second project in the Soundscape Park neighborhood.<\/p>\n","protected":false},"author":882,"featured_media":1004635585,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1492,21742,21747],"tags":[32879,32796,51696,51695,48632],"class_list":["post-1004635572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-miami","category-latest","category-office","tag-foster-partners","tag-jll","tag-kobi-karp-architects","tag-peter-marino","tag-shvo"],"acf":[],"yoast_head":"\nSHVO Gets Approval to Renovate Landmark Miami Beach Office - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"SHVO has secured official approval for the revitalization of 407 Lincoln Road into a Class A luxury office building in Miami Beach, Fla.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHVO Gets Approval to Renovate Landmark Miami Beach Office\" \/>\n<meta property=\"og:description\" content=\"SHVO has secured official approval for the revitalization of 407 Lincoln Road into a Class A luxury office building in Miami Beach, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-15T12:20:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-15T14:15:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/407-Lincoln-Road-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"808\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/\",\"name\":\"SHVO Gets Approval to Renovate Landmark Miami Beach Office - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/407-Lincoln-Road-featured.jpg\",\"datePublished\":\"2022-12-15T12:20:29+00:00\",\"dateModified\":\"2022-12-15T14:15:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"SHVO has secured official approval for the revitalization of 407 Lincoln Road into a Class A luxury office building in Miami Beach, Fla.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/shvo-gets-approval-to-renovate-landmark-miami-beach-office\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/407-Lincoln-Road-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/407-Lincoln-Road-featured.jpg\",\"width\":808,\"height\":620,\"caption\":\"Rendering of 407 Lincoln Road redevelopment. 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