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.

R&B Realty Group's Kobi Karp-Designed The Gateway at Wynwood Nears Completion Revealing Vibrant Mural

The Gateway at Wynwood, a Class A office building developed by R&B Realty Group and designed by renowned Miami architect Kobi Karp, is nearing completion. The long-awaited exterior garage cladding, which depicts a vibrant mural, has been fully installed just in time for Art Basel next month. Additionally, the rooftop deck has been completed and signage is going up around the building. Located at the intersection of Wynwood and Midtown, the office building, which found inspiration in Wynwood’s innovative spirit and modern vibe, will allow Wynwood's new residents to walk to their offices and shops without having to get in their cars. Wynwood, which used to be home to neglected warehouses, is seeing a construction boom of condos and apartments and, now, office buildings as well.

The Gateway at Wynwood will offer about 195,000 SF of leasable Class A office space and nearly 25,900 SF of prime street-level retail space. Kobi Karp designed the environmentally responsible building with 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 signed 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.

Wynwood has developed into a new office submarket in Miami, creating competition for more established office markets such as Downtown Miami, Brickell, Aventura and Coral Gables. Several big-name companies have made Wynwood their home, such as Spotify, Live Nation, Veru and Founders Fund. New zoning has also attracted many multifamily developers such as Related Group, Lennar, Fisher Brothers, and AMLI Residential, who recently broke ground on one of the largest mixed-use multifamily developments to ever break ground in Wynwood.

The Gateway at Wynwood Signs First Office Lease With Oncology Biopharmaceutical Company Veru Inc.

The Gateway at Wynwood has signed its first office lease as the office building is nearing completion. The developer of The Gateway at Wynwood, R&B Realty Group just signed an eight-year lease with Veru Inc. Veru (NASDAQ:VERU) is an oncology biopharmaceutical company with a focus on developing novel medicines for the management of prostate and breast cancers. The company will occupy 12,155 SF of space on the border of the iconic Wynwood and Midtown Miami neighborhoods. The new lease will more than triple Veru’s current office space.

R&B Realty was represented by Colliers South Florida’s Executive Managing Director Stephen Rutchik, Director Tom Farmer and Director Tyler de la Pena. Veru was represented by JLL’s Vivian Gonzalez.

Scheduled to take occupancy in Q1 2022, The Gateway at Wynwood will be Veru’s new Miami-based global headquarters, moving from an existing office space in Wynwood. Veru has also expressed interest in taking occupancy as soon as The Gateway at Wynwood, which is currently under development, is delivered. The project, being developed by New York-based R&B Realty Group, is scheduled for completion in Q4 of 2021.

“We are excited that Veru chose our new Class A office building for their global headquarters,” said Shelby Rosenberg, R&B Realty’s Head of Development and Acquisitions, Asset and Property Manager, US Portfolio. “This lease highlights the increasing demand for quality office space in the Wynwood area. The Gateway at Wynwood is uniquely positioned with unmatched accessibility to the Midtown and Wynwood neighborhoods, and all of the amenities they have to offer, as well as proximity to the bay and downtown Miami.”

The Gateway at Wynwood will offer about 195,000 SF of leasable Class A office space and nearly 25,900 SF 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.

Veru, which also has offices in London and in Malaysia, is focused on the development and commercialization of novel medicines for management of two of the most prevalent cancers globally – prostate cancer and breast cancer. Based on positive clinical trial results, Veru also has an agent being evaluated in an ongoing Phase 3 clinical trial for the treatment of hospitalized patients with moderate to severe COVID-19 who are at high risk for acute respiratory distress syndrome. Veru’s new lease at The Gateway at Wynwood will triple the company’s existing Miami footprint to accommodate its rapid growth and planned future growth.

“Veru is a biopharma company dedicated to the development and commercialization of novel cancer drugs for prostate and breast cancers. As a high-tech company, we view both The Gateway at Wynwood and the Wynwood neighborhood itself as the perfect fit for Veru, as both are also cutting edge,” said Dr. Mitchell Steiner, Chairman, President and CEO. “We believe that Wynwood’s eclectic mix of commerce, culture, restaurants and technology provides the ideal location to enable Veru to continue to grow and flourish as a global leader in oncology therapeutics.”

Wynwood has developed into a new office submarket in Miami, creating competition for more established office markets such as downtown Miami, Brickell, Aventura and Coral Gables. Several big-name companies have made Wynwood their home, such as Spotify, Live Nation and Founders Fund. Other companies looking at the area include Google, Dentsu and other creative marketing agencies.

For more information about commercial sales or leasing in Wynwood, private showings or availability/ pricing information please fill out the form below:

The Kobi Karp-Designed Class-A Office The Gateway At Wynwood Powering Towards Completion

The Gateway at Wynwood, the newest Class-A office building in Wynwood’s emerging neighborhood and new office submarket, is powering towards completion in the second half of 2021 after topping off in December 2020 at 13-stories. The project, which is located at 2916 N Miami Ave., is being developed by R&B Realty Group and is designed by Kobi Karp. Plaza Construction is the general contractor. The Gateway at Wynwood will feature 195,000 SF of leasable office space, private rooftop terrace and 25,900 SF of retail space on the ground floor.

Wynwood is Miami’s newest and emerging office submarket and a hub for creative and innovative businesses. Many well known companies have already re-located office space to Wynwood including Spotify, WeWork, and Live Nation with other big names including Google, Apple Music and Dentsu looking to move into the area.

For more information about commercial leasing in Wynwood, private showings or availability/ pricing information please fill out the form below:

Construction At The Gateway At Wynwood Ahead Of Schedule, To Be Completed 2nd Half 2021

Construction of The Gateway at Wynwood is speeding ahead of schedule with completion of the office building scheduled for the second half of this year. The developer has also released new renderings of the project’s 10th floor, which will only offer ‘spec suites.’

R&B Realty Group LLC, the forward-thinking developer behind The Gateway, is devoting the entire 10th floor to fully built-out and ready for move-in office space. The move-in ready suites, starting at 2,000 square feet, can be combined to form bigger units as well. Gensler is the interior architect leading the design of the spec suites.

The Gateway at Wynwood is one of the first Class A office buildings of this scale to rise in Wynwood, Miami's newest office market. Based in New York, R&B Realty Group has a keen understanding of what New York executives are looking for as they plan to relocate down south, and have included elements to cater to their tastes. 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.

The Gateway at Wynwood is located at 2916 North Miami Avenue and was designed by Kobi Karp. When complete the building will feature over 420,000 SF of space including 200,000 SF of leasable Class A Office Space, 25,000 SF flexible floor plates, an on-site parking garage, floor-to-ceiling glass windows, a private rooftop terrace, around-the-clock security, and 25,000 SF of prime street-level retail space.

For more information about commercial leasing at The Gateway at Wynwood, private showings or leasing information please fill out the form below:

Wynwood's Newest Class-A Kobi Karp-Designed Office Building, The Gateway, Tops Off

The Gateway at Wynwood has just topped off at 13-stories by R&B Realty Group. The project is a Class-A office building in Wynwood’s emerging neighborhood and new office submarket. The Gateway will feature 195,000 sq.ft. of leasable office space, private rooftop terrace and 25,900 sq.ft. of retail space on the ground floor. 

Shelby Rosenberg, Principal of R&B Realty Group, said, “This is one of the most important moments in the construction of a commercial project, especially as we are ahead of schedule amidst the pandemic. We are excited to see The Gateway at Wynwood is a step closer to reality. Our project will contribute to the transformation of Wynwood into a 15-minute city, where people can access their office, home, the grocery store, restaurants, and more within a 15-minute walk. We want to thank the city, the area’s stakeholders, our construction and design team, and all our partners for trusting us and helping The Gateway at Wynwood reach this important milestone.”

Plaza Construction is The Gateway’s general contractor and Kobi Karp is the architect. The 13-story building is estimated to be complete in the second half of 2021 and is currently ahead of schedule. 

"Despite the challenges that COVID-19 has posed across our industry, we are proud to have been able to reach this milestone on time and without incident,” said Brad Meltzer, president of Plaza Construction. "We prioritized the health and safety of all stakeholders with great success, and we look forward to continuing to deliver exemplary construction services to the South Florida market and beyond."

Wynwood is Miami’s newest and emerging office submarket and a hub for creative and innovative businesses. Many well known companies have already re-located office space to Wynwood including Spotify, WeWork, and Live Nation with other big names including Google, Apple Music and Dentsu looking to move into the area.

Stephen Rutchik, Colliers International Florida’s Executive Managing Director who handles office leasing for The Gateway at Wynwood said: “We are actively engaged with prospective tenants that are attracted to Wynwood because of its ‘live, work, play’ environment. This area has become a mecca for art, food, and entertainment just north of downtown Miami. While a few companies are hesitant to sign new leases just now, they do know exactly where they want to be … and that is Wynwood. We expect many of the deals in the pipeline for The Gateway at Wynwood will come to fruition as we get closer to completing the building later next year.”

The Gateway at Wynwood is located at 2916 N Miami Ave, a desirable location just a few minutes away from Downtown Miami, Aventura and Miami Beach. The area is also very close to Miami Internation Airport and PortMiami attracting many visitors and tourists all year round.

Ness Realty Proposes The Gateway Mixed-Use Project In Aventura

An entity tied to Raphael Ammar and Ness Realty have proposed The Gateway, a mixed-use project that would feature office space, retail and a hotel. The developer has filed an Administrative Site Plan Review Application with Miami-Dade County for the 1.35-acre site located at 2630-2600 NE 203rd Street. The developer is seeking a zoning change to move the property entrance from NE 203rd Street to NE 26th Avenue. The property sits across Biscayne Boulevard (US-1) from Aventura Mall, adjacent to Beacon Tower, and is located within the Ojus Urban Area District. There is currently an older office and apartment buildings on the site.

The Gateway is designed by International Design Engineering Architecture (IDEA) and would be built in two phases. The current proposal calls for 100,800 square feet of office space, 7,200 square feet of retail, 21,760 square feet of convention space, 167 hotel rooms and 492 parking spaces. Phase 1 would include the construction of the 6-story office building and Phase 2 would include the 12-story hotel. The Gateway is expected to break ground in Q3 2021 pending approvals and obtaining building permits.