US-based fashion and beauty retailer Victoria's Secret has opened a new 7,500ft² flagship store on Lincoln Road, Miami Beach, in the state of Florida.
The luxury retailer relocated from a nearby site to the location, after securing a 12-year lease agreement from ALTO Real Estate Funds.
The property was acquired by ALTO in 2021, during the pandemic.
The opening is the culmination of six months of preparations.
ALTO Real Estate Funds co-founder and CEO Yaniv Melamud stated: “ALTO invests strategically in properties that elevate our portfolio, and Lincoln Road exemplifies such an asset.
“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.”
Lincoln Road is witnessing investments of more than $3bn in luxury residential and hospitality projects, drawing international investors and global brands to Miami Beach and enhancing its stature as a destination for fashion, lifestyle and real estate.
ALTO, with more than 15 years of experience, has been capitalising on opportunities in high-growth US markets. Having raised $560m across five funds, the company holds a portfolio valued at $1.8bn, comprising 79 properties and more than 15 million ft² .
With a track record of 51 successful exits, ALTO's strategic investment focuses on logistics centres and open-air retail.
In June 2025, Victoria’s Secret & Co posted net sales of $1.35bn in Q1 2025, which aligns with the upper end of the company’s guidance range and remained flat year-on-year (YoY).
Victoria's Secret identified unauthorised network access on 24 May 2025 and immediately activated response measures, which included hiring external cybersecurity professionals.
To safeguard its data, the company temporarily disabled its corporate systems and online store on 26 May. Following these precautions, the e-commerce platform was back online by 29 May.
