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MIAMI BEACH-When Comras Co. and financier LNR Property Corp. scouted the former Fedco pharmacy site at Washington Avenue and 16th Street, they knew the perfect fit for that commercial corner would be an eight-story, 140,000-sf office/retail complex. That $30 million, eight-story project, Lincoln Place, is under construction and expects to be completed by early 2002 in this eight-mile long, trendy tourist destination across Biscayne Bay from Miami.

Lincoln Place will offer 100,000 sf of class A office, 30,000 sf of retail and a 500-car parking garage. The project is another part of the current construction boom in class A space in Miami-Dade County not seen since the 1980s, according to Cushman and Wakefield of Florida Inc. Space demand by the Internet and entertainment industries is fueling the boom.

Although reports abound of dot.com companies falling from the grace of IPO euphoria, the advent of the network access points with their million-fold increase in security and speed may spur returns and more confidence in that sector according to Cushman and Wakefield.

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