Stonerock Capital Partners Launches Leasing At Twin Office Buildings On Flagler Street In Downtown Miami

Stonerock Capital Partners has launched leasing at 200 SE First Street and 44 W Flagler Street, the twin office buildings they acquired this year. Leasing is being overseen by Avison Young. The buildings include modern, move-in-ready spec suites, controlled access, 24/7 security, touchless systems, state-of-the-art fitness centers, and sleek conference centers. Both properties are also centrally located, with easy access to public transportation.

Both office buildings are within the Miami DDA Grant Incentive Program boundaries available to new-to-market businesses or expanding businesses that will either relocate or hire a minimum of ten (10) new employees to the district within three years.

200 SE 1st is both office and data warehousing space, which is a huge benefit for tech occupiers. 44 W Flagler continues to be ideal for legal tenants, as it fronts the Miami-Dade courthouse, the new Miami-Dade courthouse that is being built, and many other complementary government and legal buildings. Additionally, 44 W Flagler marks the gateway to the Flagler Improvement District, which is undergoing a $30 million renovation.

Over the past few years, Miami has matured as a major metropolitan area, with a wave of corporate relocations, especially fintech, financial services, banking, and private equity firms. With the increasing population and demand for office space, Downtown Miami, nestled just north of the thriving Brickell financial district, is undergoing a revival. The corridor along Biscayne Boulevard already boasts some of Miami’s most expensive residential towers.

According to Avison Young research, Downtown Miami has seen several new-to-market tenants contributing to 152,171 square feet of net absorption for the year to date, more than any other Miami submarket. The activity has pushed vacancy down faster downtown than in Miami overall, a trend that is likely to continue as more firms execute return-to-office strategies.

“Miami has achieved an incredible level of sophistication, but, when looking at the market, we found that many buildings are failing to cater to tenant needs. Companies are bringing employees back to the office and need enticing spaces and accessible locations. At 44 and 200, we’ve partnered with top designers to create beautiful offices, ensure swift turnaround on tenant improvements, and offer a thoughtful package of upgraded lifestyle amenities,” says Stonerock CEO Jake Handelsman

Stonerock has begun the implementation of its renovation plan, creating two distinct experiences for companies to choose from.

“Well-located downtown office buildings with quality amenities and retail have proven to be more attractive to workers,” says Donna Abood, Principal and Managing Director of Avison Young’s Miami office whose team will spearhead leasing at 200 Southeast First and 44 West. “Additionally, move-in-ready office suites set these buildings apart as Downtown Miami continues to see increased interest from relocating tenants.”

200 SE First Street is a 12-story building with ground-floor retail. The company has approved plans for a complete facade remodel. Designed by upscale YF Designers, the new facade will better reflect the building’s newly renovated modern minimalist interior. As well, Stonerock has revitalized the building’s data center, giving the local market access to expanded data capacity.

44 W Flagler Street is a 25-story office tower anchored by First Horizon Bank, directly across the street from the Miami-Dade County Courthouse. Aside from quality tenant improvement plans, Stonerock has implemented a parking plan and added touchless systems and controlled access. Stonerock is committed to sustainability and has incorporated green materials and energy-efficient features such as LED lighting and touchless systems.

Mana Common Partners With Plug And Play To Bring Global Tech Accelerator To Downtown Miami

MANA Common, led by CEO and visionary entrepreneur Moishe Mana, has announced that it will partner with the global innovation platform, Plug and Play, to establish a presence within Downtown Miami’s Flagler District. Plug and Play, based in Silicon Valley, is the world’s largest global innovation platform and investor.

“Miami has always had the components to make it a global technology hub,” says Moishe Mana. “Now that remote work has allowed tech workers and founders to live nearly anywhere, we’re seeing an acceleration of Miami’s emergence as a leading city for tech.”

The collaboration aims to unite the most promising startups with the world's impactful corporations to drive investment, foster innovation, and secure collaborative partnerships across an array of verticals within the Miami tech ecosystem.

This marks the first Miami office for the tech platform, which besides its headquarters in the Silicon Valley has offices in dozens of cities including Paris, Tokyo, Chicago, São Paulo, and Shanghai.

"We look forward to being a dynamic part of the growing tech community in Miami,” says Saeed Amidi, Founder and CEO of Plug and Play. “Our partners will bring their knowledge, expertise, and experience to help our startups grow. Connecting these key stakeholders and industry experts will expedite the digital and cultural transformation in a location ripe for explosive growth. We will work hand-in-hand with Mana Tech to find the founding partners to further develop the tech community.”

For Mana Common, the partnership is one of the first steps in executing their vision for the Flagler District as the economic center of Miami. Mana is Miami’s largest private landowner and their current efforts are focused on their dozens of properties surrounding Flagler Street in Miami’s Downtown core.

“This marks a huge milestone and opportunity for the Miami tech scene,” says Michelle Abbs, Managing Director of Mana Tech, one of the six divisions of Mana Common. “We’ve been actively listening and responding to the local tech community, and we’re excited to deliver a solution like this with Plug and Play who has successfully built complete innovation ecosystems multiple times. It’s the connection that the Miami tech and business communities have been lacking, until now.”

The annual program is designed to host two cohorts per year. Mana Common will co-host the first event with Plug and Play in Miami on February 16, 2021 intended to gather interest from the initial founding members that will jointly work in this project. Miami-Dade County Mayor Daniella Levine Cava, Miami Mayor Francis Saurez, and other corporate partners have confirmed their attendance.

Plug and Play’s platform includes an array of innovation protocols and a curated selection of startups, including the Miami tech entrepreneurs, that will help corporations bridge the gap to bring new products and services to market faster. Plug and Play will offer business development opportunities, mentorship, and networking for startups, investors, and corporations. Twice per year, the founding corporations will choose 10 to 15 startups to benefit from these opportunities.

Moishe Mana's Pedestrian Friendly Vision For Redeveloping Flagler Street Unveiled

Construction has been stopped on Downtown Miami's redevelopment of Flagler Street, a project which has seen over 7 years of planning, to discuss pivoting to a new plan proposed by Moishe Mana. Mana, one of Downtown Miami's major land holders, has proposed a new for the the transformation of Flagler Street. Mana is calling for a "curbless" street  with no raised sidewalks in addition to the removal of on-street parking. The changes would allow for a pedestrian friendly outdoor, high-street retail concept with outdoor restaurant seating and entertainment. The streets would also include lush landscaping and bollards for pedestrian safety. Changes to the original plan would cost Miami-Dade tax payers $6 million with funding coming from city, county, DDA and private investors but should the project get delayed county funding may be pulled. Construction is anticipated to take between 36-42 months.