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The Founder of Zara Just Bought a Massive Block on Lincoln Road

Arthur Marcus/Sender Building Historic Resources Report via Curbed Miami

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The fourth richest man in the world, Amancio Ortega Gaona, who happens to be founder of Zara and its parent company, Inditex Group, has just struck the one of the biggest land deals in the history of Miami, South Florida Business Journal reports. On Wednesday, Playa Retail Investments, a Miami-based company that can apparently be traced back to Ponte Gadea, his real estate investment firm, purchased every single property on the north side of Lincoln Road between Michigan Avenue and Lenox, the same block that hosts Gap, Apple, and the future three-story Nike store with a basketball court, for $370 million. Could Zara be cutting its lease at the tail end of Lincoln Road and moving to the middle of it? Just suspicions.