Constellation Group and The Boschetti Group Complete 4225 Ponce, Coral Gables' Newest Boutique Class A Office Property

Constellation Group, in partnership with The Boschetti Group, celebrated the completion of 4225 Ponce, a new eight-story, boutique Class A office and retail development located at 4225 Ponce de Leon Blvd in Coral Gables, during an exclusive unveiling event for VIP guests on February 26.

Designed by internationally renowned architecture firm Arquitectonica, the 84,000-square-foot luxury office property reflects a broader evolution in workplace preferences that accelerated post-2020 – favoring smaller, design-forward office environments in suburban, amenity-rich districts with direct access to public transit. The property sits directly across from the Shops at Merrick Park and three blocks from the Douglas Station Metrorail.

The property is over 50% leased to high-profile tenants including UBS Group, which signed a long-term lease for 33,180 square feet spanning two floors in late 2024, and Enne, an internationally renowned luxury furniture brand whose flagship Miami showroom will occupy the property’s 6,000-square-foot ground-floor retail space. CBRE’s Cameron Tallon, Eric Groffman and Randy Carballo are leading the leasing effort.

4225 Ponce delivered amidst the continued migration of millionaire and billionaire business moguls from high-tax states to well-established, family-friendly residential enclaves like Coconut Grove, where smaller office properties are in high demand.

“4225 Ponce reflects the way today’s executives want to work,” said Eduardo Otaola, Managing Principal of Constellation Group. “Miami’s rapid growth in human capital and high-net-worth residents have created demand for a more curated office experience — one that prioritizes quality over scale. Today’s leaders are seeking environments that are intentional, discreet, and seamlessly connected to where they live and how they move throughout their day."

“The overwhelming response to 4225 since opening in January confirms that the ‘flight to quality’ isn't just a trend—it’s the new standard for Miami’s office landscape,” added CBRE’s Cameron Tallon. “We are seeing a specific 'migration of wealth' from cities such as New York, Chicago and California, and these type of high-net-worth individuals and boutique firms prioritize privacy, service, and location. These tenants seek more than just a traditional space for a few offices and desks; they want an office that functions as a natural extension of their lifestyle and a space to entertain friends and clients. 4225 was thoughtfully designed and developed for this caliber of user. When the lease-up is complete, we believe 4225 will ultimately have one of the best tenant rosters in Miami.”

Located at 4225 Ponce de Leon Blvd., the property features four levels of boutique office space and a penthouse floor with views of Biscayne Bay, along with best-in-class amenities including private terraces, a covered pedestrian paseo with valet service, on-site structured parking, dedicated office elevators, and electric vehicle charging stations. Within an eight-minute walk of the Metrorail, 4225 Ponce offers seamless connectivity to downtown Miami, Brickell, and beyond.

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THE FIFTH MIAMI BEACH Locks Down $47.3 Million In Construction Financing From Cain International

International recognized real estate development firms, Sumaida + Khurana and Bizzi+Bilgili, a partnership between Bizzi & Partners with Serdar Bilgili, have locked down a $47.3 million construction loan for THE FIFTH MIAMI BEACH, a five-story Class A+ office building designed by renowned Spanish master architect Alberto Campo Baeza in Miami Beach’s South of Fifth neighborhood. The financing was provided by Cain International. The project is Baeza’s first commercial building in the United States and will deliver 60,200 SF of office, retail and restaurant space. THE FIFTH MIAMI BEACH is 20% pre-leased. Construction began in 2022 following the Historic Preservation Board of Miami Beach’s unanimous approval and completion is expected in 2025.

The building is ideally situated at the entrance to Miami Beach from the MacArthur Causeway, located in the exclusive enclave of South of Fifth, at the corner of Michigan and Fifth Street. The Class A+, LEED Certified office building will seek to take an innovative approach by delivering on the singular quality, craftsmanship and architectural pedigree that Sumaida + Khurana and Bizzi & Partners are renowned for delivering on their residential condominium projects.

World-renowned architecture firm, Gabellini Sheppard Associates is designing the interiors, award-winning firm Cube 3 is the executive architect and Miami-based Urban Robot Associates is the project’s landscape architect.

The project will be akin to an exquisite jewel box, wrapped in glass, white marble and white concrete. The biophilic design approach incorporates many elements that bring the outdoors inside and also provides expansive spaces that are ideal for tenants to design creative work environments. The building features a monumental marble lobby with 35-foot ceiling heights, 14-foot ceilings throughout office floors, open and flexible floorplans, floor-to-ceiling windows and every office includes expansive private outdoor terraces. Located in the center of the building is a large outdoor atrium that opens up all of the offices to a dramatic experience of light, air, and outdoor space. In addition, the building features multiple amenities for tenants to share including a private landscaped rooftop with expansive, unobstructed water views. This offering will be further complemented by a state-of-the-art fitness center and spa, multiple food and beverage options, and valet parking. The building will also offer advanced air quality and filtration systems that will be part of the focus on sustainability and health.

Based in Spain, Baeza has been widely recognized for his work including winning his country’s National Prize for Architecture in 2021. Some of his notable projects include the Houses Turégano and de Blas, both in Madrid, the Gaspar House, Asencio House in Cádiz, the Olnick Spanu Museum in Garrison, New York, the BIT Center in Inca-Mallorca, the Museum of Memory of Andalucía in Granada. In 2020, he won the competition to design a new bridge over the Piave River in Belluno, Venice.

Sumaida + Khurana is led by Founding Partners Saif Sumaida and Amit Khurana. Bizzi & Partners is led by CEO Davide Bizzi and Managing Director Alessandro Pallaoro. Both firms are individually known the world over for developing some of the most significant real estate projects in the world, collaborating with critically acclaimed and architects and designers. New York-based Sumaida + Khurana collaborated with Pritzker Prize winning architect, Tadao Ando to design 152 Elizabeth Street, as well as Pritzker Laureate, Alvaro Siza for 611 West 56th Street. Bizzi & Partners, which has offices in New York, Milan, São Paulo, and Tallinn, worked with Pritzker Prize winning architect Renzo Piano to design both 565 Broome SoHo in Manhattan and Eighty Seven Park in Miami. The firm also developed the Langham Hotel in New York, designed by Charles Gwathmey.

Images by THE FIFTH MIAMI BEACH

Kobi Karp Designed Gateway at Wynwood Class A Office Complex Refinanced With $113 Million Loan

Berkadia has arranged a $113 million loan to refinance Gateway at Wynwood, a 220,000-square-foot, Class A office and retail project designed by Kobi Karp in Miami’s Wynwood District. Senior Managing Director Charles Foschini, Managing Director Christopher Apone and Associate Director Robert Iudice of Berkadia South Florida arranged the loan on behalf of New York-based Rose & Berg Realty Group LP (“R&B Realty”), a family-owned real estate management, leasing and construction company. The property is leased to a diverse tenant roster including BoConcept, OpenStore and Veru. A10 Capital, a vertically integrated, full service commercial real estate lender, provided the three-year loan, with two, one-year extension options.

Berkadia also secured the original construction loan for the project in early 2020 through lender 3650 REIT. This time,

"The volatility in the lending environment made this office refi transaction challenging, but our relationships with the lending community and the strength of this asset helped us secure one of South Florida's largest office refis in recent times," said Foschini. "We are proud to have played a key role in helping our client move forward with its plans as it continues to attract strong office and retail tenants to the trophy property in the highly desired Wynwood area north of downtown Miami."

Designed by ‘starchitect’ Kobi Karp, Gateway at Wynwood is located at 2616 North Miami Avenue, in the epicenter of Miami’s Wynwood corridor, one of the most desirable 24-hour submarkets in the nation. It features approximately 220,000 square feet of Class A office space encompassing roughly 27,700 square feet of space on each of its floors. It features a private rooftop terrace with panoramic views, as well as 512 on-site parking spaces. The project also features 24,000 square feet of retail space and is centrally located at the convergence of the Midtown and Wynwood submarket’s’ high-traffic retail corridor, with immediate access to thousands of new residential units.

Gateway at Wynwood is just minutes away from Miami’s Central Business District (CBD), Midtown, Edgewater, the Arts and Entertainment District, Brickell, Miami Beach, and a variety of mass transit options including I-195, the Miami Metrorail and the new Brightline commuter rail line connecting Miami to Fort Lauderdale and Palm Beach.

Terra Launches Leasing For The Arquitectonica-Designed 'The Offices At THE WELL' in Miami's Bay Harbor Islands

One of Miami’s most in-demand neighborhoods is getting a welcomed dose of modern office space. The Offices at THE WELL is part of a new mixed-use development set to rise in Miami’s exclusive Bay Harbor Islands neighborhood, becoming the first high-end office building to launch in the community in decades. Developed by Miami-based Terra, THE WELL Bay Harbor Islands development will include 98,420 square feet of class AA office space, 54 luxury residences, 11,000 square feet dedicated to an integrated wellness experience operated by New York-based wellness company, THE WELL, and a 6,500 square foot signature food and beverage outlet, complete with an expansive rooftop with amenities, garage parking and an elevated plaza. Construction is scheduled to begin in Q1 2023, with completion anticipated in late 2024.

Located at 1177 Kane Concourse, The Offices at THE WELL Bay Harbor Islands will meet growing demand for high-end boutique office space as residents and companies continue to gravitate to South Florida, while reinvigorating Bay Harbor’s iconic Kane Concourse main thoroughfare.

THE WELL New York opened in 2019 as a luxury health and wellness destination that offers clients a range of holistic healthcare services – from Eastern healing practices and Western medicine – including fitness classes, yoga and meditation, acupuncture, sound therapy, spa treatments, and access to the top practitioners in functional medicine and beyond. Since its New York City launch, the brand has expanded with additional locations in Connecticut with THE WELL at Mayflower Inn, and Costa Rica with THE WELL at Hacienda AltaGracia. THE WELL Bay Harbor Islands will become the company’s first Florida location.

“THE WELL Bay Harbor Islands will be a premier address for working, living and wellness just as Miami enjoys a surge of new residents and businesses,” said David Martin, CEO of Terra. “The Offices at THE WELL will be an ideal option for companies looking to incorporate wellness into the workplace, with tenants being able to access all of the exclusive benefits of THE WELL’s curated programming and wellness center.”

Designed by Arquitectonica, with interiors by Meyer Davis, the Offices at THE WELL will reimagine the traditional office lobby into a programmed social space for tenants featuring food and beverage service, unique gathering spaces, and the ability to book THE WELL micro treatments. The development will include four floors of office space complemented by a grand lobby and a rooftop amenity deck, with on-site amenities such as a social lobby and café with comfortable lounge areas, where coffees, juices, and culinary treats can be enjoyed and ordered via text for quick, convenient service. For an outdoor work experience, tenants will have access to greenhouse-style work pods as well as a rooftop level with outdoor meeting areas and community gardens. Office users will also benefit from additional outdoor experiences at an elevated landscaped Plaza, a controlled access parking garage, office valet, and state-of-the-art security.

Office tenants will receive a discounted membership to The Club at THE WELL Bay Harbor Islands, which will include a state-of-the-art fitness and wellness center, as well as full-service concierge services from THE WELL Team, dedicated private outdoor and indoor classes, access to annual health coaching sessions to guide tenants in creating individualized wellness plans, preferred pricing on treatments and services, and exclusive benefits across THE WELL locations globally.

Terra has enlisted a best-in-class team to represent The Offices at THE WELL Bay Harbor Islands, with the Blanca Commercial Real Estate team of Tere Blanca, Danet Linares, Christina Jolley, and Nicole Kaiser leasing the building’s office space.

“Today’s office users are placing emphasis on planning and building custom-designed space in areas that are walkable, accessible to shopping and housing, and which offer on-site outdoor recreation. The Offices at THE WELL Bay Harbor Islands checks all of these boxes – and more,” explains Tere Blanca, CEO of Blanca Commercial Real Estate. “The Offices at THE WELL’s superior technology systems, sustainability initiatives, private rooftop space, and exclusive on-site access to THE WELL and its network of health and wellness destinations globally are appealing to firms looking to establish their presence in one of Miami’s most sought-after neighborhoods.”

Bay Harbor Islands is an exclusive community made up of two islands connected by the Kane Concourse/Broad Causeway bridge, which also leads to Bal Harbour, Surfside and Miami. Other nearby neighborhoods of interest include Indian Creek and Sunny Isles on the Atlantic side, and Sans Souci and Miami Shores to the west. Bay Harbor Islands has its own elementary school, the Ruth K. Broad Bay Harbor K-8 Center, which is consistently rated among the top public schools in the county, along with three neighborhood parks, a tot-lot playground, outdoor fitness space, public tennis courts, a community center, and an assortment of independent shops, galleries, bistros, and professional offices.

Quest Workspaces Signs 22,252 SF Lease At Allen Morris Company's Alhambra Towers

Quest Workspaces, a leading Florida-based developer and operator of high-quality flexible workspace solutions in Miami and New York, has signed a 22,522 square foot lease at the Allen Morris Company’s iconic Alhambra Towers in Coral Gables, located at 121 Alhambra Plaza. Quest Workspaces will occupy the entire 10th floor of Coral Gables’ premier Class A+ building and is expected to open in Q3 2023.

Quest’s newest location in Alhambra Plaza will be the shared workspace brand’s 13th location throughout Florida and New York. Quest Workspaces is the largest female-owned shared workspace brand in the U.S., has been named one of INC’s 5000 Fastest Growing Companies and has been voted a ‘Best Place to Work’ every year for the past 10 years.

“We are honored to have Quest Workspaces join the Alhambra Towers family,” says Spencer Morris, President of The Allen Morris Company. “The location of the building, coupled with Quest’s highly successful operating structure is ideal for the post-pandemic hybrid work model desired by so many. The expanded building amenities create an unparalleled value proposition in the shared workspace arena as well as for all of Alhambra Towers’ tenants. The furnished, fully landscaped outdoor terraces will be ideal for special events, lunch, and coffee breaks.”

The shared workspace offerings will include individual offices, most with expansive windows, shared meeting spaces and multiple conference rooms of various sizes. Alhambra Towers’ 10th floor also includes one-of-a-kind amenities, including three large, wrap-around, multi-use outdoor terraces totaling 6,000 square feet, offering 360-degree views of the city.

Quest Workspaces plans on completely renovating the terraces, turning them into zen-like spaces for lunch breaks, casual meetings, recreational usage and special events. The space will be accessible to all building tenants.

Quest’s lease coincides with a $4 million renovation of the building’s lobby and common areas, and the addition of a ground-floor, soon-to-be-announced destination restaurant on the building’s ground floor, scheduled to open this summer.

Lance Benson of Newmark represented Quest, Thad Adams, Maricarmen Cabrera and Rafael del Rosal represented Alhambra Towers.

“We are so excited to expand our presence in Coral Gables, and bring our unique approach to shared workspace to more businesses and entrepreneurs in our community,” says Laura Kozelouzek, CEO of Quest Workspaces. “Our new location in Alhambra Towers is the corner of ‘Main and Main,’ within minutes from dozens of restaurants and hotels. Plus, a building owned and operated by The Allen Morris Company ensures us that our clients are benefiting from being in a superior office building with the highest level of service, quality and amenities.”

Global Investment Management Firm Pretium Signs Lease At Eighteen Sunset In Miami Beach's Sunset Harbour

Specialized investment management firm Pretium plans to open an office at Deco Capital Group’s Eighteen Sunset, a Class A office building being constructed at 1769 Purdy Avenue in Miami Beach. Pretium has leased 11,591 square feet on the fourth floor of the project, which together with other completed leases represents approximately 80% of all available office space at Eighteen Sunset. About 9,500 square feet in the building is still available. The project is currently rising after securing a $60 million construction loan last year.

“Miami Beach is excited to welcome Pretium to our community where our business assistance programs and incentives ease the ability of doing business, and our culture and lifestyle benefit business leaders, create jobs, and attract and retain talent,” shared Miami Beach Mayor Dan Gelber.

With more than 4,500 employees, Pretium has over $50 billion in assets under management across U.S. residential real estate, residential credit and corporate credit. Pretium’s Miami Beach office will span more than half of the fourth floor in the five-story building. The company will join a multibillion-dollar, publicly traded Toronto firm that signed a 20,000 square foot lease earlier this year. On the ground floor, Uchiko, a restaurant concept by award-winning Hai Hospitality group, will occupy approximately 6,000 square feet of space. Stephen Rutchik, executive managing director of Colliers International Florida, and Neil King, vice chairman of CBRE New York, represented Deco Capital Group in the transaction, and Daniel Posy, executive managing director of JLL New York, represented Pretium.

“Pretium is excited to be expanding its office presence to Miami, a region with a growing financial services community,” said Laura Cappiello, Pretium’s Chief Human Resources Officer. “Having an office in Miami will enable Pretium to attract and retain premium talent and broaden the pool of diverse candidates we seek to recruit.”

“Miami Beach has seen a significant increase in inbound investment, and the most fundamental change to the city’s economy has been the drive to develop Class A, best-in-class office space capable of accommodating the needs of preeminent global companies,” said Bradley Colmer, founder of Deco Capital Group. “Pretium operates from exemplary offices in international financial hubs and is proud to be one of the trailblazing companies relocating or expanding and establishing a more substantial presence in South Florida. Pretium is drawn to Eighteen Sunset for its quality design, prime waterfront location in the Sunset Harbour neighborhood and market-leading amenities and views.”

The City of Miami Beach has assisted a number of technology and financial services companies in expanding or relocating their operations after launching meaningful business incentive programs and business concierge services in 2021. Pretium participated in the city’s Expedited Plan Review and Permitting Program which offers an accelerated permitting review process of 10 business days. The city’s Job Creation Incentive Program offers an incentive of up to $60,000 per year for up to four years for businesses in targeted industries that create or relocate a minimum of 10 new, full-time jobs with average annual wages that meet or exceed 125% of Miami-Dade County or Florida average wages.

“It is really encouraging to see great companies, like Pretium and others, take advantage of Miami Beach’s programs and services,” affirmed Miami Beach City Manager Alina Hudak. “These programs were created to diversify the Miami Beach economy for the benefit of the entire community.”

Renderings via Eighteen Sunset

World-Renowned Spanish Master Architect Albert Campo Baeza's First U.S. Commercial Building THE FIFTH MIAMI BEACH To Launch Leasing And Break Ground

Sumaida + Khurana and Bizzi & Partners, two internationally recognized real estate development firms, will begin leasing and start construction in the coming months for their new Class A+ office building designed by renowned Spanish master architect Alberto Campo Baeza named THE FIFTH MIAMI BEACH. This will be the first commercial building in the United States and first building in Miami designed by Baeza, who won Spain’s National Prize for Architecture last year. It will also be the first new commercial building to be built in Miami’s South of Fifth neighborhood in more than 15 years. This summer, less than one year after acquiring the site, Sumaida + Khurana and Bizzi & Partners received unanimous design approval by the Historic Preservation Board of Miami. Sumaida + Khurana is led by Founding Partners Saif Sumaida and Amit Khurana. Bizzi & Partners is led by CEO Davide Bizzi and Managing Director Alessandro Pallaoro.

The Fifth Miami Beach will redefine the modern office experience with a design that evokes poetic architecture through simplicity, beauty, and exquisite detailing. Its striking jewel box shape features a facade of precious white marble, transparent glass, and clean white concrete. Sumaida + Khurana and Bizzi & Partners decided to emphasize health and wellness throughout every aspect of the development.

The building incorporates a number of biophilic design elements which make it an elevated oasis, including massive, landscaped outdoor terraces, a majestic triple-height atrium at the building’s core and an impressive rooftop with expansive ocean and water views. It also includes an abundance of amenities including two dining venues, indoor and outdoor gyms, and a spa. With interiors designed by renowned architectural firm, Gabellini Sheppard Associates, the quality level of interior details, finishes and materials are what would be expected in a custom home.

"At The Fifth Miami Beach, we have sought to deliver a singular boutique office product that has not previously existed. By thoughtfully integrating contemporary architecture and craft, private fitness and spa amenities, expansive outdoor space and lush landscaping, curated dining options, and bespoke building services, our objective has been to think of the office building as a holistic ecosystem that supports the well-being and spatial experience of its tenants," said Amit Khurana, Founding Partner, Sumaida + Khurana.

“Alberto Campo Baeza’s architectural design features understated elegance, purity of design and subtle detailing that creates a calm, meditative ambiance that sets the tone for the rest of the building. We have assembled a stellar team to create an environment that is of the highest quality. In addition to Campo Baeza and Gabellini Sheppard Associates, award-winning firm Cube 3 serves as the executive architect and renowned firm, Miami-based Urban Robot Associates will be the project’s landscape architect,” said Alessandro Pallaoro, Managing Director, Bizzi & Partners.

Global commercial real estate firm Cushman & Wakefield will oversee office leasing efforts and is being led by Brian Gale, Ryan Holtzman and Andrew Trench. Miami Beach-based commercial retail brokerage firm, Avenue Real Estate Partners will be handling retail leasing and is led by Aaron Butler.

“The Fifth Miami Beach, which measures 60,000 square feet, will be the highest quality boutique office building ever built in the United States. We have never seen a product at this scale that offers the same architectural pedigree, custom finishes, and best-in-class amenities. It will be the perfect offering for flight to quality tenants,” said Brian Gale, Vice-Chairman, Cushman & Wakefield.

The building spans five floors and each appears to effortlessly float due to the custom steel edge details found along the concrete slabs. Office ceiling heights reach 14 feet and offer an abundant sense of light, air, and outdoor space throughout every level. Each floor includes extensive wraparound terraces created for relaxation or group gatherings, where colleagues can meet. The building includes a monumental marble lobby with 33-foot ceiling heights as well as a large atrium that runs through its core. It also incorporates multiple amenities for tenants to share including a crowning rooftop space offering unobstructed views of the ocean and Miami Beach; a state-of-the-art fitness center and spa wrapped in custom oak millwork and tundra marble; on-site dining venues providing healthy dining options; and a best-in-class dining establishment that will occupy the ground floor and mezzanine space. Two historic houses located on site will be carefully restored and incorporated into the building’s design. One will be geared towards becoming a café that will serve healthy options and another will include a private courtyard seating and a butterfly sanctuary garden.

The project has been designed to meet LEED certification standards and will feature environmentally friendly materials and construction methods, high energy efficiency, reduced water consumption, and advanced air quality and filtration systems. The building is situated at the entrance to Miami Beach from the MacArthur Causeway, in the South of Fifth neighborhood at the corner of Michigan and Fifth Street. SoFi has quickly become an exclusive enclave home to many popular restaurants, hotels, hot spots, and high-end condos.

Sumaida + Khurana and Bizzi & Partners are individually known the world over for developing some of the most significant real estate projects in the world, collaborating with critically acclaimed and architects and designers. New York-based Sumaida + Khurana collaborated with Pritzker Prize-winning architect, Tadao Ando to design 152 Elizabeth Street, as well as Pritzker Laureate, Alvaro Siza for 611 West 56th Street. Bizzi & Partners, which has offices in New York, Milan, São Paulo, and Tallinn, worked with Pritzker Prize-winning architect Renzo Piano to design both 565 Broome SoHo in Manhattan and Eighty Seven Park in Miami. The firm also developed the Langham Hotel in New York, designed by Charles Gwathmey.

Brick & Timber Collective Acquires Wynwood Office Building Cube Wynwd For $62 Million

Brick & Timber Collective has acquired Cube Wynwd, an office building in Miami’s hot Wynwood neighborhood, from Tricera Capital and Alex Karakhanian’s LNDMRK Development for $62 million. The transaction closed on December 13 and Tricera and LNDMRK retained an undisclosed ownership stake in Cube Wynwd. Tricera and LNDMRK originally acquired the 100,000 SF office building, which includes ground-floor retail, rooftop space and parking, for $28 million in an April 2021 off-market deal. Tony Arellano of DWNTWN Realty Advisors represented both buyer and seller in the transaction.

Berkadia’s Scott Wadler and Mike Basinski secured a $36.18 million loan on behalf of the buyer Brick & Timber Collective. This is the second time in 20 months the property has traded and been capitalized by Berkadia. The Berkadia team also lined up $27.5 million in senior and mezzanine financing when Tricera Capital and LNDMRK acquired the property in April of 2021. JP Morgan provided the balance sheet $36.2 million five-year fixed-rate loan with full term interest only.

The Tricera Capital and LNDMRK Development partnership acquired Cube Wynwd in 2021 from Red Sky Capital when Scott Sherman was still with firm. Sherman has since left and founded Torose Equities. The Class A office building was developed in 2019 by Redsky Capital in partnership with JZ Capital Partners and was financed by Bank OZK and Lionheart Strategic Management.

“We are thrilled with the execution of our business plan for Cube Wynwd, culminating in this significant disposition,” Tricera Chief Financial Officer Christian Ramirez said. “This investment underscores the depth and versatility of Tricera 2.0, as we tapped into our robust acquisitions and asset management divisions, top-tier leasing professionals, team members with development experience and real estate finance experts. We look forward to replicating the model at our many other investments and developments.”

Prior to completing the disposition, the Tricera and LNDMRK partnership finalized a five-year lease with Boston’s Northeastern University to occupy the 10,976 SF fifth floor of the 222 NW 24th St. building. Northeastern plans to operate a brand-new graduate degree program tailored to working professionals in Miami’s rapidly growing fintech industry.

The Northeastern deal maintains Cube’s 100% leased status, as investment firm Schonfeld Strategic Advisors is set to relocate from Cube to The Dorsey, a Wynwood mixed-use building Tricera and LNDMRK partnered with The Related Group to develop. Schonfeld is expected to move to The Dorsey in early 2023.

“Northeastern’s lease at Cube is yet another example of where Wynwood’s office market is headed and reinforces the building’s incredible tenant mix,” Tricera President/Head of Leasing Dustin Ballard said. “It is exciting that local fintech professionals will have an opportunity to pursue a graduate degree from a renowned university. That will help take the fintech sector – and the City of Miami – to build upon the accomplishments and growth of the past few years.”

CBRE’s Eric Groffman, Cameron Tallon, Emily Brais and Randy Carballo served as landlord representatives in the Northeastern lease. Colliers International South Florida Stephen Rutchik and Tyler de la Peña and Colliers International Greater Boston’s John Carroll represented the tenant.

Additional Cube tenants include Blockchain.com, Ecuadorean fintech firm Kushki, Shaolin Capital Management, Brazilian footwear manufacturer Grendene, office supply and furniture online retailer Poppin, tech firm Transmit, and more.

Image via Richard Novak

Ken Griffin Expands Brickell Holdings As Citadel Leases 95,000 SF At 830 Brickell

The multi-billionaire hedge fund magnate Ken Griffin, who founded the Chicago-based Citadel Securities, has continued to expand his Brickell portfolio while Citadel signed a lease for 95,000 SF at OKO Group’s 830 Brickell office tower. Griffin announced earlier this year that both Citadel and Citadel securities will move to Miami from Chicago. Through an entity Griffin acquired acquired the adjacent 1250 Brickell Bay Drive and 1260 Brickell Bay Drive for $20 million, the lots total roughly 6,655 SF. The lots are adjacent to 1221 Brickell Avenue, which an entity tied to Citadel reportedly acquired in June 2022 for $286.5 million.

The assemblage of properties spanning from 1221 Brickell Avenue to 1250-1260 Brickell Bay Drive is across the street from 1201 Brickell Bay Drive, which Citadel was revealed as the buyer of after Tibor Hollo’s Florida East Coast Realty sold the 2.5 acre supertall development lot in a $363 million mega-deal also in April 2022. The price equated to $145 million per acre, $3,340 PSF dirt value. Citadel is planning to develop the property with the Chicago-based developer Sterling Bay.

The lease signing at 830 Brickell comes following the news of developers OKO Group and Cain International buying WeWork out of their 146,000 square foot lease covering 10-floors. WeWork was one of the first to sign a major lease at the Class A office tower in 2019 which was set to become their largest location Florida. Rents at 830 Brickell are now in excess of $125 PSF, representing a 42% rise year-over-year. Other top-tier office users who have signed leases at 830 Brickell include Microsoft, international law firm Sidley Austin LLP, New York-based insurance firm A-CAP, private equity firm Thoma Bravo, CI Financial, Marsh Insurance, AerCap, and others.

The news comes as the Miami office market continues to boast one of the lowest vacancy rates with absorption faring better than other competing markets across the U.S, according to the Miami Downtown Development Authority’s 2021 Office Market Report. In fact, Downtown Miami was the only major urban office market in the country to achieve net-positive absorption in 2021.

WeWork Bought Out Of 146,000 SF Lease At 830 Brickell By OKO Group And Cain International

WeWork has been bought out of their lease to occupy 146,000 square feet covering 10-floors at 830 Brickell by developers OKO Group and Cain International. WeWork was one of the first to sign a major lease at the Class A office tower in 2019 which was set to become their largest location Florida. Rents at 830 Brickell are now in excess of $125 PSF representing a 42% rise year-over-year. Construction on the tower is nearing completion.

Despite the WeWork opt-out 830 Brickell has signed leases with other top-tier office users at 830 Brickell, including Microsoft, international law firm Sidley Austin LLP, New York-based insurance firm A-CAP, private equity firm Thoma Bravo, CI Financial, Marsh Insurance, AerCap, and others.

The news comes as the Miami office market continues to boast one of the lowest vacancy rates with absorption faring better than other competing markets across the U.S, according to the Miami Downtown Development Authority’s 2021 Office Market Report. In fact, Downtown Miami was the only major urban office market in the country to achieve net-positive absorption in 2021.

830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati.

The tower’s amenities will include a rooftop bar/lounge and restaurant – with menus developed alongside a three-Michelin-starred chef and showcasing expansive views of the City and Biscayne Bay, a world-class health and wellness center, conferencing facilities, an outdoor terrace, cafeìs and street-level retail. Multiple transit options are nearby, including Metrorail and Metromover, the Brightline, walking paths, cycling lanes and bay access points. Additionally, some of Miami’s top residential and lifestyle-driven neighborhoods are situated just minutes away, such as Miami’s Design District, Wynwood, Edgewater and Miami Beach.