Adrienne Arsht's Bayfront Estate Hits Market As Miami's Most Expensive Listing Ever At $150 Million

The Arsht Estate, a magnificent waterfront compound owned by business leader and philanthropist Adrienne Arsht, will be coming to the Miami market for $150 million, setting a record as the most expensive single-family listing ever for Miami-Dade County and one of the highest-priced offerings currently for sale in the country. Neighboring Vizcaya, Miami’s landmark museum, the property, encompasses two homes and is ideally situated on more than four pastoral acres and overlooks Biscayne Bay from atop one of Miami’s highest bayfront elevations. The property features more than 400’ of water frontage with panoramic views of the Bay, Key Biscayne, and Downtown Miami. Senior Vice President Ashley Cusack with Berkshire Hathaway HomeServices EWM Realty will be listing the estate which is located in the estate section of Brickell Ave.

“Being the steward of such a magnificent haven has been a true honor,” said Arsht. “This property has been the cherished site of some of our country’s most memorable gatherings. It is, without a doubt, one-of-a-kind and so quintessentially Miami. As a decades-long Miami resident, I am pleased to have been a part of preserving this treasure, and I look forward to having a continued positive impact on the community.”

The stately gates of the Arsht Estate lead to a pair of separate, two-story homes and several standalone structures, totaling more than 25,000 square feet. The primary residence, known as Indian Spring, was built by Arsht in 1999 and designed by Jose A. Gelabert-Navia, the former Dean of the University of Miami School of Architecture. The five-bedroom manse is crafted to accommodate elegant, grand-scale entertaining, with all living areas featuring sublime views of the verdant grounds and Biscayne Bay. Indian Spring has 20-foot ceilings, a formal living room and a Great Room, and an expansive, lush courtyard entryway. Adding to the inimitable elegance of the home, a formal dining room with seating for up to 20 guests is flanked by French doors on both sides. Further highlights include a primary bedroom suite with two full baths and a full gym; a grand foyer with a sweeping staircase offering direct views of the pool and Biscayne Bay; a handsome sunlit office with rich wood paneling; a sprawling family room, affectionately known as the “Garden Room;” a tranquil covered patio, which is an ideal space for entertaining guests or enjoying rest and relaxation; a Chicago brick drive; and an elevator.

Indian Spring additionally has a six-car garage with an upstairs two-bedroom, two-bath apartment, as well as a private oversized office for the owners’ use. The bayfront swimming pool includes two full baths with easy access to accommodate guests for outdoor entertaining. There is also a lighted tennis court.

The second residence, known as Villa Serena, was built in 1913 by former U.S. Secretary of State and three-time U.S. presidential candidate William Jennings Bryan. Designed by venerated architect August Geiger, the iconic manse has endless Biscayne Bay views and was meticulously and lovingly restored by Arsht to reflect its original glory. Villa Serena was furthermore designated “historic” by the National Register of Historic Places in 2012. Its unique design includes two ornate staircases accessing private upstairs sleeping quarters and, reflective of the era, a hidden doorway, allowing for seamless passage between rooms. The home also has a detached guest house, situated above a three-car garage.

“This is a compound that invites prominence – one that is not only connected to Miami’s earliest roots, but now to the world’s future of finance, technology, and global conglomerates, all operating and conducting their business just minutes away from this exceptional time-honored property,” said Cusack. “Thanks to its refinement and world-class amenities, the Arsht Estate is a residence with absolute global appeal. Its setting and size will be a draw for the most sophisticated of buyers.”

Throughout the years, the Arsht Estate, often referred to as South Florida’s “embassy,” has been the backdrop for numerous important events and gatherings involving international luminaries, including U.S. presidents, ambassadors, and world leaders.

“The sheer splendor of the Arsht Estate cannot be overstated,” added Ron Shuffield, CEO of Berkshire Hathaway HomeServices EWM Realty. “This is an extraordinary offering – a ‘unicorn’ for the market…one that simply cannot be duplicated.”

Arsht, a native Delawarean, divides her time among Washington, DC, Miami, and New York. In Miami, she was Chairman of TotalBank. Arsht’s philanthropy includes the Adrienne Arsht Center for the Performing Arts in Miami, the Arsht Centers for Latin America, and for Resilience, at the Atlantic Council in Washington, DC, and funding for the first all-paid internships at the Metropolitan Museum of Art in New York.

Indian Spring

Villa Serena

Photos via 1 Oak Studio

Newgard Development Group's Home-Sharing Tower LOFTY Brickell Now 50% Reserved

Newgard Development Group’s LOFTY Brickelll which offers a flexible home-sharing condo ownership concept has hit 50% sold. The developer plans to open the sales lounge in mid-February. LOFTY Brickell will deliver fully finished and furnished turn-key, residences purposefully designed and licensed to be lived and shared via short-term rentals. LOFTY Brickell will rise 44-stories and is located on the Brickell Riverfront. The tower is expected to break ground Q4 of this year.

“Buyer’s desire for new ways to own and use real estate assets, paired with favorable locations and economics, are nurturing investment growth in our properties,” says Harvey Hernandez, CEO of Newgard Development Group. “We recognize we’re in a state of tremendous transition and increasing numbers of people are discovering they can live and work from anywhere. LOFTY was created for buyers seeking for a modern way to own, live and monetize luxury real estate.

LOFTY features studio, one- and two-bedroom units alongside 40,000 square feet of thoughtfully curated amenities, including a private marina, waterfront dining, members-only social club, resort pool deck and fitness center, indoor/outdoor cigar lounge, co-working lounge and meeting rooms. Interiors are designed by NY-based INC, architecture by Arquitectonica and landscaping by Urban Robot Associates.

“We are witnessing an incredible transition in how people are choosing to live their lives,” said Alicia Cervera Jr. Managing Partner of Cervera. “Buyers want more than a beautiful place to live in, they’re seeking hotel-like amenities with the flexibility and mobility of a local experience, which translates to LOFTY’s initial success of being 50% reserved in just a few months.”

Prices for studios start at $493,000, one bedrooms from $660,000, and two-bedrooms from $794,000. Sales and marketing for LOFTY Brickell are exclusively overseen by Cervera Real Estate.

The Coconut Grove Restaurant Scene Is Buzzing Amid New Restaurant Openings Including A New Concept From David Grutman

Coconut Grove is alive and buzzing amid a variety of new restaurant opens that are bringing one of Miami’s most historic and beautiful neighborhoods back into its heyday. In December Major Food Group opened Sadelle’s, a breakfast-centric haven, power-lunch hotspot, and energetic dinner destination located in Park Grove at the former Tigertail + Mary space. Nearby, reclaiming its role as the epicenter of Miami’s Coconut Grove commercial district, the newly redeveloped CocoWalk is now 100% leased with the announcement of the new openings including The Key Club from David Grutman’s Groot Hospitality and a new concept from Ariete Hospitality.

The Key Club, which is set to open at CocoWalk in the upcoming weeks, is an energetic American grill. It’s menu will feature items such as seafood, steaks, salads and will offer a sushi component with an upbeat, party atmosphere. The restaurant is designed with nautical and nature vibes with indoor and outdoor seating. They are currently hiring for management, FOH and BOH positions. Groot Hospitality is the restaurant group behind Swan, Papi Steak, and Komodo, as well as nightlife destinations such as LIV.

Other recent openings include modern American restaurant Botánico Gin & Cookhouse, which opened in November, and Duck N’ Sum, a modern Asian restaurant serving classic flavors such as steamed bao buns and garlic noodles. Then, in December, Sushi Garage unveiled its unique culinary experience inspired by classic Japanese flavors created by Executive Chef Sunny Oh.

Ariete Hospitality Group, the culinary creators behind some of Coconut Grove’s most popular restaurants such as Ariete, Navé and Chug’s, will also open a new restaurant on property this year. Set to open in spring 2022 is Narbona Natural Foods & Farm Market, the 8,253-square-foot specialty market that will feature a butcher shop, fresh pastas, and a bakery along with a selection of gourmet cheeses, craft beers, wines, and coffees – all produced on its farms in South America. This will become Narbona’s second location to open in South Florida.

In addition to the new and exciting dining concepts, world-class cinema Cinépolis makes its highly anticipated debut with the opening of a brand-new movie theater this winter, marking the return of the neighborhood’s only movie theater.

“Our goal with the newly renovated CocoWalk is to reinvigorate the lifestyle destination and offer a more curated experience to those who live, work, and play in Coconut Grove,” said Michael Comras, CEO and President of The Comras Company. “The return of Cinepolis, the top shops already open and our upcoming restaurant debuts by several of Miami’s leading hospitality groups will further enhance the lifestyle, dining and shopping experience the new CocoWalk has to offer.”

The new restaurants join an already impressive and extensive line-up of curated national, regional and local concepts currently open at CocoWalk such as PLANTA Queen, Mister 01 Extraordinary Pizza, Sweetgreen and ice cream outpost Salt & Straw.

Images via CocoWalk

Miami Sees Second Highest Priced Crypto Sale As Marquis Residences Condo Sells For $7.2 Million

The Downtown Miami market is on fire amidst a number of building launches and splashy sales. Now the City of Miami has seen its first crypto sale of the year as Unit 5306 in Marquis Residences has sold for $7.2 million in Ethereum that was transferred to USD Coin, a digital stablecoin that is pegged to the United States dollar, for the transaction. The sale is the second largest in Downtown Miami behind a $7.2 million sale at the nearby One Thousand Museum and the third highest in the Miami area ranking behind a $22.5 million deal at Arte in Surfside, both last year. Madison Roberts and Zach Oppenheim with Oppenheim Realty represented the buyer in the transaction, and Enzo Rosani of Barnes International Realty represented the seller, along with Ricardo Assaf with Unblock Capital, who helped mediate the crypto transfer. Coral Gables Title & Escrow handled the closing. Roberts and Oppenheim also represented the buyer in the One Thousand Museum deal last year.

Marquis Residences is located at 1100 Biscayne Boulevard in Downtown Miami. The buyer is a business developer from Central America. The triplex spans 6 bedrooms 7 bathrooms and 6,952 square feet. The two-story residence offers floor-to-ceiling windows overlooking the entire city and ocean, a movie room, designer kitchen, office, two laundry rooms. The lavish master bedroom features views of Biscayne Bay and a double shower, jacuzzi and sauna. The unit also features a full home automation system throughout and window treatment for efficient A/C and energy savings.

"I have been in the crypto industry since 2011, it is absolutely amazing to see where crypto is right now and where it is headed. The opportunities are endless and we have yet to begin," said Roberts.

Images via Barnes International Realty

CI Financial Expands Office Lease At 830 Brickell Which Now Rises Above The Brickell Skyline

Canadian asset and wealth management firm CI Financial Corp has doubled the size of its planned office space at 830 Brickell, a Class A-plus office tower under construction in the heart of Miami’s Brickell Financial District. Just months after signing a 20,000 square-foot lease that will house the firm’s U.S. headquarters, CI Financial has expanded with an additional floor. The new office will total approximately 40,000 square feet. The firm’s expansion further solidifies 830 Brickell as the address of choice for financial, professional services, and global firms looking to establish or grow their presence in South Florida. The 55-story tower, which is being developed by a joint venture between OKO Group and Cain International, is slated for completion later this year.

CI Financial will join other notable tenants at 830 Brickell including private equity firm Thoma Bravo, which recently announced plans for a 36,500 square foot office in the tower, and global tech company Microsoft, which signed a 50,000 square foot lease for its Latin American regional headquarters.

“830 Brickell already enjoys a reputation as Miami’s most desirable and best located trophy office tower, and CI Financial’s commitment to expand its space at the building reinforces the confidence we’ve seen from high-end office users and global businesses seeking a location in South Florida,” said Vlad Doronin, Chairman and CEO of OKO Group. “Our team has drawn from our collective experience in the luxury hospitality industry to bring five-star-hotel-inspired features, amenities and services to 830 Brickell that have lured top-tier companies looking for a best-in-class, urban setting in Brickell’s prestigious financial district.”

"With its unparalleled workplace experience, prime location and trophy stature, 830 Brickell continues to reaffirm its position as the preeminent office building in the South Florida market. Its success reinforces our global investment thesis of combining hospitality, amenities, services and experience to create the best destinations in the world," said Jonathan Goldstein, Co-Founder and CEO of Cain International. "We remain extremely confident in Miami’s future and the role that premium office assets will play in its expansion into a global gateway city."

830 Brickell’s ownership was represented by the Cushman & Wakefield team of Brian Gale, Ryan Holtzman and Andrew Trench. CI Financial was represented by Donna Abood and Mark Robbins of Avison Young.

“Boasting the newest standards in building design and finishes in South Florida, 830 Brickell continues to attract the highest quality tenants,” said Brian Gale, Vice Chairman at Cushman & Wakefield, who oversees leasing for the project. “830 Brickell’s ownership team’s financial strength and commitment to the asset have been key factors for these types of savvy tenants. 830 Brickell has signed over 150,000 square feet of leases in the last six months, and we look forward to announcing additional tenants soon, as we continue to lease up the building.”

830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati. The building’s design incorporates top-of-the-line wellness features and technologies, including ultraviolet technology in air filtration, ventilation, and water purification systems, as well as touch-free fixtures and contactless entry/exit points.

The tower’s amenities will include a rooftop bar/lounge with a five-star restaurant showcasing expansive views of the City and Biscayne Bay, a world-class health and wellness center, a conference facility, 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.

Tour This Restored Classic 1929 Coconut Grove Estate Designed By De Garmo Which Just Sold For A Record $12 Million

Coconut Grove remains one of Miami’s hottest neighborhoods in Miami for luxury real estate. A non-waterfront home at 3467 Moorings Way has sold for $12.8 million, marking a record 2,000+ per square foot for a non-waterfront residence in Coconut Grove. The seller was Moorings Land Trust, represented by Anna Sherrill with ONE Sotheby’s International Realty and the buyer is Dynamo Hum LLC, represented by Jorge Uribe with ONE Sotheby’s International Realty. The residence is located in The Moorings, one of Coconut Grove’s most exclusive enclaves with only 43 residences. The Mediterranean revival villa was originally designed and built in 1929 by Walter De Garmo is authentically designed a restored to perfection.

The walled and gated classic estate is masterpiece of Mediterranean inspired architecture, surrounded by a landscaped courtyard, garden, and loggia lined patios. The estate is situated on 28,577 square foot point lot with views of Biscayne Bay. The home features 6 bedrooms and 7 bathrooms and spans 6,200 square feet. The interior is designed to the highest standards and updated to assimilate the with organic nature of the estate. The foyer and formal living room feature vaulted beam ceilings with details of stone and glass. The home also features a formal dining room, lavish bedrooms with en-suite baths and a stunning master suite that exemplifies luxury and sophistication overlooking the private manicured grounds. Outdoors features a 2 car garage, separate guest home and beautifully landscaped gardens with a coral stone pool.

Walter De Garmo was prominent architect in Miami and its surrounding South Florida communities in the early 20th century. Several well known buildings designed by De Garmo still stand today including the Woman's Club of Coconut Grove, the 1907 Miami City Hall, the Miami Beach Community Church on Lincoln Road and 27 Star Island which just listed for $90 million.

Images via 1 Oak Studios

Apollo Bank Reaches $1 Billion in Assets Following Banner Growth Year In 2021

South Florida-based leading community bank Apollo Bank has hit $1 billion in assets amidst the bank’s strongest growth year to-date. In the past ten years the bank has grown from $100 million to $1 billion. Apollo Bank focused on investing in technology and talent, including the addition of a new president and grew its residential lending division with the aim of supporting commercial clients. The bank’s steady growth over the past decade is reflective of Miami’s rise over the same period as a hub for business, investment, lifestyle, and arts and culture, which has fueled the region to lead the nation in a strong pandemic recovery led by significant wealth and business migration.

Apollo Bank is now the region’s leading community bank with five branches across Miami-Dade County’s key business sectors, including Brickell, Coral Gables, Doral, Kendall, and Hialeah. This growth has been despite the number of community banks in South Florida decreasing by more than half over the past decade as a result of acquisitions from larger financial institutions.

To start off 2021 Apollo Bank appointed Ramon Rodriguez as bank president, a well-respected leader and longtime banking executive. At the same time, the bank also announced significant investments in enhancing digital capabilities and recruiting top talent to ensure long-term growth while continuing to offer best-in-class service. As South Florida has experienced an expansion of its business landscape fueled by financial firms, investors and the tech industry all cementing roots in the region, Apollo Bank also grew its residential lending division aimed at supporting existing and potential commercial clients, new-to-market business owners and investors.

“Before the pandemic, Apollo Bank was already adding new technologies to its suite of services, including advances in mobile banking to match the bank’s elevated level of personalized and convenient service,” said Eddy Arriola, Chairman and CEO of Apollo Bank. “Like many other trends, the pandemic further accelerated the banking industry’s digital needs, resulting in the bank embarking on a digital revolution including the introduction of a new app, enhanced mobile banking, an optimized website and digitized internal systems to streamline internal communication.”

“As our economy diversifies, it created an opportunity for the bank to augment and invest in our residential lending team, which is providing financing to local, national, and international high net worth individuals,” said Ramon Rodriguez, President of Apollo Bank.

When Apollo Bank first launched in 2010, the $100 million institution had one branch in Brickell, Miami’s Financial District, and was founded by local businesspeople to serve South Florida’s business community, with an emphasis on forging long-term relationships with clients through exceptional service. While Miami was just starting to recover from a nationwide recession, the founder of Apollo Bank believed the current economic climate coupled with consolidation in the banking sector, made it an opportune time to launch a community bank.

“Back in 2008, in the height of the recession, I spoke with several industry veterans about opening a community bank focused on commercial clients. Everyone thought I was crazy,” Mr. Arriola added. “Now 10 years after launching Apollo Bank, I am proud of the organization we’ve built, how we’ve supported our community through the most uncertain times, including the pandemic, and how together, we have helped Miami transform into one of the financial and business capitals of the world.”

Brightline Breaks Ground On Boca Raton Station As Eco-Friendly Railway Continues To Connect South Florida

Brightline, the only provider of modern, eco-friendly, intercity rail in America, has broken ground on its new Boca Raton station with Kaufman Lynn Construction, Inc. as the construction manager for the garage and train station. Once completed, the station will be Brightline’s fifth operational in the state, connecting travelers in Boca Raton to Miami, Aventura, Fort Lauderdale, West Palm Beach, and soon Orlando. Located on a 1.8-acre site across from Mizner Park and adjacent to the downtown library, Brightline’s Boca station, designed by Zyscovich Architects, will feature approximately 38,000 square feet of space which will include its signature autonomous MRKT and premium lounge among other station amenities. The station will offer a seamless travel experience through modern technology, including a cashless environment, touchless turnstiles and high-speed WiFi. Brightline's Boca station is expected to be complete in the fall of 2022.

Brightline’s president, Patrick Goddard, was joined at the groundbreaking ceremony today by Congressman Ted Deutch, Boca Raton Mayor Scott Singer, Jorge Pesquera of Discover the Palm Beaches, in addition to members of the Boca city council and elected officials. The groundbreaking of Brightline’s Boca station follows the commencement of construction for the station's parking garage, announced in December of 2021.

“As a premier business and leisure destination, Boca Raton is a perfect fit for Brightline and will be an integral part of our network that will further connect the state of Florida,” said Patrick Goddard, president of Brightline. “Brightline stations help enhance the local communities and economies where we operate and provide travelers with quick access to state-wide lifestyle and tourist destinations. We look forward to building a long and productive partnership with the Boca community.”

In 2021, Brightline was awarded a $16.3 million Consolidated Rail Infrastructure and Safety Improvement (CRISI) Grant from the FRA to fund a portion of the construction of the Brightline Train Station, parking garage and associated rail infrastructure. In addition to the CRISI grant, the City has provided a commitment of $9.9 million towards funding the parking garage. The balance of the project, approximately $30 million, will be funded by Brightline. Construction of the Boca Raton station is expected to create more than 480 jobs during construction while contributing more than $23 million in wages.

The station is expected to strengthen ties between Boca Raton and South and Central Florida. By connecting to the broader Brightline system, local employers will have access to a bigger employee pool and workers will gain access to an additional 89,000 office jobs within average commute times. This investment will continue to make Boca Raton one of the most desirable and vibrant places to live, work and visit. In addition to benefitting commuters and other local residents, Brightline will serve a broad leisure travel population, and will spur increased tourism to Boca Raton.

“Brightline will be a game-changer for Boca Raton, and especially our downtown,” said Mayor Scott Singer. “We look forward to welcoming the many riders who will work at our thriving businesses and visit our cultural, dining, and shopping attractions, and for our residents to connect to a major transportation network from Miami to Orlando. Thanks to our strong partnership with Brightline and support of our Congressional delegation for an FRA grant, we can’t wait to say all aboard in Boca Raton!”

Also under construction is the 455-space parking garage that will service Brightline’s Boca station and visitors to the downtown library, who will have dedicated, covered, and complimentary spaces on the first floor. In October 2021, Brightline completed construction of the new Community Garden for the Junior League of Boca Raton, as well as a temporary parking lot for the downtown library. Brightline managed and funded the construction of both projects as part of the agreement to build the new station.

“Kaufman Lynn Construction is excited to be building this new station and garage with Brightline, the City of Boca Raton and the Federal Railroad Administration,” said Michael Kaufman, CEO of Kaufman Lynn Construction. “The entire team is excited to help connect South Florida and Central Florida with this Brightline rail stop.”

Brightline currently serves Miami, Fort Lauderdale, and West Palm Beach, with its expansion station in Aventura opening in 2022. Brightline’s current construction project to Orlando is more than 70 percent complete with over 1,300 daily workers on the job tallying more than four million hours of work. In January of 2022, Brightline began daily crew training and qualifying test runs between West Palm Beach and Cocoa. Over an eight-year period, Brightline’s corridor between Miami and Orlando will result in $6.4 billion in economic impact while creating more than 10,000 jobs. Construction of the highly anticipated expansion to Orlando is on track to be complete by the end of 2022, ​​with service to begin in early 2023.

Miami Design District To Host Fifth Annual Miami Concours Where John Hennessey Set To Debut New Hypercar

The Miami Concours is set to host the fifth annual automotive showcase which will take place on Sunday, February 20th in the Miami Design District and celebrate American supercar visionaries. The 2022 Miami Concours will honor legendary collector, Motorsport innovator, and automotive manufacturer James Glickenhaus and will feature a selection of historic cars from his personal collection, two new Glickenhaus production cars, and the Miami unveiling of a one-of-a-kind racing car.

Celebrating Iconic American Hypercar Manufacturers, the Miami Concours has invited John Hennessey to unveil a new one-off version of the Hennessey Venom F5. The $2.8 million, 250mph+, Limited Edition Venom F5 Hypercar, is one of only 24 cars to be produced for the world. In addition to the iconic American Hypercars, the Miami Concours plans feature 60 hand-picked entries of the most sought-after exotic post-war automobiles entered by some of the country’s most significant collectors. Uniquely, all cars will be presented on a spectacular red carpet which will run throughout the Design District from Northeast 39th Street, continuing north via connecting walkway Paseo Ponti to Northeast 41st Street and into Paradise Plaza.

Miami Design District is one of the hottest neighborhoods in the world, home to a number of luxury fashion houses, art galleries, fine dining experiences, and cafés. The open-air, pedestrian-friendly neighborhood, known for its many distinct and artistic façades, notably boasts a highly energy-efficient infrastructure and became the first neighborhood in the world to achieve the Gold level (LEED ND: Built v4 Gold). The Miami Design District is owned and operated by Miami Design District Associates, a partnership between Dacra, founded and owned by visionary entrepreneur and developer Craig Robins, and L Catterton Real Estate, a global real estate development and investment fund specializing in investing in luxury shopping destinations. The neighborhood was inspired by the worlds leading shopping districts including Fifth Avenue and Rodeo Drive and visitors can enjoy mature canopy-covered streets and walkways, sculptural specimen trees, and extensive rooftop gardens.

Images via Miami Design District

OpenStore, The Platform Where Entrepreneurs Can Sell Their Shopify Businesses, Leases Office Space In The Gateway at Wynwood

As tech companies continue to rapidly expand and enter the Miami market, OpenStore has moved into its new office space in the Kobi Karp-designed The Gateway at Wynwood. Founded by Keith Rabois of Founders Fund, Jack Abraham of Atomic, and Michael Rubenstein, the former President of AppNexus, OpenStore is a platform that allows entrepreneurs with Shopify businesses to sell their companies and receive liquidity for what they’ve built. The tech company now occupies 14,914 square feet at The Gateway at Wynwood, located at the intersection of the iconic Wynwood and Midtown Miami neighborhoods. It is the first tenant to move into the recently completed building.

R&B Realty Group, the developer behind The Gateway at Wynwood, was represented by Colliers’ Executive Managing Director Stephen Rutchik, Managing Director Tom Farmer and Director Tyler de la Pena. OpenStore was represented by JLL’s Adam Bernstein and Jeffrey Gordon.

“We are very excited to welcome OpenStore to The Gateway at Wynwood,” said Shelby Rosenberg, R&B Realty’s Head of Development and Acquisitions, Asset and Property Manager, US Portfolio. “OpenStore is a fantastic fit for our spec suite program, offering the tech company flexibility as it continues to scale up and grow. We are continuing to see strong leasing activity and continued interest from a variety of sectors. We expect to have more exciting news to announce soon.”

OpenStore connects merchants and customers into a single unified shopping experience through access to data, information, and capital. The company announced in July that it raised $30 million in Series A funding, with a valuation of $250 million. OpenStore’s goal is to offer instant liquidity for eCommerce entrepreneurs.

OpenStore’s founders, Keith Rabois and Jack Abraham, helped fuel the rise of Miami’s tech scene when they were among the first high-profile executives to announce their move to Miami. The Miami tech movement, which was sparked by City of Miami Mayor Francis Suarez’s now infamous tweet - “How can I help?” - has transformed the city’s office market. Companies and executives in search of a better quality of life, lower taxes and great weather have descended upon Miami, now dubbed the “Silicon Valley of the South.”

R&B Realty devoted the entire 10th floor of The Gateway at Wynwood to fully built-out and ready for move-in office space, dubbed ‘spec suites.’ Designed by Gensler, the spec suites take the stress out of the office leasing and build-out process, providing companies flexibility in their space, and the ability to move in almost immediately upon completion of the building. OpenStore’s lease occupies the remainder of the spec suites available on the 10th floor. Due to its success, the spec suites program has been expanded to the 9th floor. The move-in ready suites, starting at 2,000 square feet, can be combined to form bigger units as well.

The Gateway at Wynwood offers about 195,000 square feet of leasable Class A office space and nearly 25,900 square feet of prime street-level retail space. Designed by renowned architect Kobi Karp, the environmentally responsible building features flexible floorplans, a private rooftop terrace, gym, unique bay window system, 24/7 on-site security, vibrant exterior cladding, and 2:1,000 on-site covered parking. This summer, R&B Realty Group announced the building's first office lease with biotech company Veru Inc. The eight-year, 12,155-square-foot lease will serve as the company's global headquarters and triple Veru's current office space