3 MiamiCentral Completed & Welcomes Brightline, The Project’s First Office Tenant

Florida East Coast Industries has announced the completion of 3 MiamiCentral, its first mixed-use tower at MiamiCentral and has welcomed its first office tenant, Brightline. Brightline, the nation’s only privately funded inter-city, express passenger rail service, officially moved its corporate headquarters to 3 MiamiCentral; additionally, HNTB, a nationally recognized infrastructure solutions firm, recently signed a lease for its Miami office. 3 MiamiCentral rises 12-stories and features 96,000 SF of rentable Class A Office Space, 35,000 SF of rentable ground level retail space and is adjacent to the MiamiCentral transit station and Two MiamiCentral. 3 MiamiCentral a seven-story parking garage to supply ample parking for Brightline guests, visitors and office tenants. Brightline’s lease encompasses approximately 24,000 SF and HNTB’s lease spans approximately 18,000 SF. Multiple retail spaces make-up the ground floor where Einstein Bros. Bagels and a major grocer. Two MiamiCentral will feature 190,000 SF of Class A Office Space with tenants including Ernst & Young, Cisneros, Moss & Associates, Venevision International Enterprises, Fortress Investment Group, Florida EAst Coast Industries and Regus. Rental rates at Two MiamiCentral are around $33 to $35 SF triple net; and $29 SF at 3 MiamiCentral  

MiamiCentral, the highly anticipated hub for transportation, leisure and business, is a transformational, first-of-its-kind, transit-oriented development, spanning six Downtown Miami city blocks. It serves as the southern terminus for Brightline, the new inter-city, express passenger rail service that opened between West Palm Beach and Fort Lauderdale on January 13. The system will extend to Miami in the coming months and will ultimately connect to the Orlando International Airport. MiamiCentral will also provide connectivity to all forms of transit in Miami-Dade County, including Metromover, Metrorail and soon, Tri-Rail.

“We are excited to have recently relocated Brightline’s new headquarters to 3 MiamiCentral, which is an important component of MiamiCentral and strategically located in Historic Overtown,” said Patrick Goddard, Brightline’s President and Chief Operating Officer. “Downtown Miami continues to transform into a vibrant community, and the addition of this new urban development and passenger rail system will be critical as the city continues to develop.”

“MiamiCentral is set to raise the bar for future office environments and 3 MiamiCentral is the first new standard,” said Daniel Quintana, vice president of development for Florida East Coast Industries. “From the variety of integrated transit options to the desired lifestyle offerings just one elevator ride from the offices, the built-in amenities that come with working at MiamiCentral are truly immeasurable.”

Check Out Miami Worldcenter & Miami Innovation District's Pitch To Transform Downtown Miami Into Amazon's HQ2 Supercampus

Miami Worldcenter and Miami Innovation District have teamed up to offer Amazon a massive opportunity in Downtown Miami's Park West neighborhood for their highly anticipated HQ2. Last week Amazon narrowed the potential cities down to 20 finalists, who are competing to to secure an expected 50,000 jobs and $5 billion in investment. The Miami Worldcenter and Miami Innovation District's pitch is already shovel ready with buildings already under construction regardless of the outcome of Amazon's choice. The proposal is one of eight offered to Amazon in Miami-Dade including 3 within city limits. Other highlights include high zoning density which offers a live, work, play opportunity as well as over 23 million SF of office, residential, retail and hotel space already in the works. Additionally, as the proposed site is within Overtown Community Redevelopment Area boundaries, the projects would be eligible for Tax Increment Financing which could exceed over $1 billion in value.

Miami Worldcenter will feature a 500,000 SF Hines office tower which is expected to break ground Q2 2018, a currently under construction Marriott Marquis Hotel with 1,800 keys, 500,000 square feet convention space . MiamiCentral will feature retail, office, residential and transit. Museum Park features the Frost Museum of Science, Perez Art Museum and luxurious residential towers such as Zaha Hadid's One Thousand Museum, Ten Museum Park and Marquis. The Arsht Center for Performing Arts is also nearby. The campus would also have strong transit connectivity, with four different rail services including the Brightline high speed rail service connecting Miami, Fort Lauderdale, West Palm Beach, and Orlando; the Tri-Rail to Miami-Dade, Broward and Palm Beach counties, Metromover through Downtown and Brickell; and the Metrorail, including airport access. Highways include easy access I-95 via 395. 

McKENZIE Reveals Tribe, The Newly Completed Transformation Of Overtown's Historic New Providence Lodge Into Co-Working Space

McKENZIE, a boutique design, build and custom fabrication firm, has transformed the historical New Providence Lodge building in Overtown into Tribe Urban Innovation Lab and Cowork, a new co-working space that will primarily focus on serving local, African American youth. Tribe will be an innovation hub focused on serving local African American youth along with the greater South Florida entrepreneur community. The historical New Providence Lodge building, located at 937 NW 3rd Avenue, once housed a Freemason chapter during the Jim Crow era and is owned by real estate giant Michael Simkins. Tribe is owned by Felecia Hatcher and Derick Pearson who are both successful entrepreneurs working to provide opportunities for African Americans to thrive in the tech industry. Simkins partnered with Tribe to successfully obtain a City of Miami CRA grant to commission McKENZIE to design and build-out the space. In addition to office space, Tribe will house Code Fever and BlackTech Week, two nonprofit organizations founded by Hatcher and Pearson that help build and diversify startup ecosystems and support African American entrepreneurs, as well as several black-owned businesses. 

The Allapattah-based McKENZIE managed the design and construction of the adaptive reuse project transforming the two-story, 3,700 SF venue into a modern, open-design concept that promotes creativity and idea sharing. McKENZIE preserved many of the original design elements in honor of the building’s history. The original wood ceiling and steel beams were purposely left exposed to provide visual contrast to the collaborative workspace’s more clean and modern finishes. Tribe features design elements that are in tune with the evolving workplace and the needs of today’s entrepreneurial workforce. The multi-use space features seven offices, several conference rooms, classrooms, a library, common area, collaborative event and hangout spaces, maker lab, and a kitchen built by McKENZIE’s Craft division.
 
“Proper design is crucial for co-working spaces as today’s employees are looking for a work environment that’s vibrant, inspirational and dynamic, not your standard office space,” said MCKENZIE’s Design Officer Jose Ortez. “Our design of Tribe creates this atmosphere while maintaining a flexible work space that can evolve with time and continue to serve the local community for years to come.”

Miami Doubles Down As A Top 20 Finalist For Amazon HQ2

After PROFILEmiami first reported that Miami was a frontrunner for Amazon's now infamous HQ 2, Miami has now made the final cuts as Amazon has named the top 20 finalists. The cities are competing to to secure an expected 50,000 jobs and $5 billion in investment. The finalists are Atlanta, Austin, Boston, Chicago, Columbus (OH), Dallas, Denver, Indianapolis, Los Angeles, Miami, Montgomery County (MD), Nashville, Newark, New York City, Northern Virginia, Philadelphia, Pittsburgh, Raleigh (NC), Toronto, Washington, D.C. Miami's application was submitted by the economic-development arms of Broward, Miami-Dade and Palm Beach counties although details of the bid have not been made public. 

Jeff Bezos lived in Miami for a period of time during his childhood and has an affinity for South Florida. Miami is an attractive city as it features a high quality of life, strong infrastructure growth, a growing educated workforce, strong job growth, etc. Quality of life has become a major factor when choosing a new headquarter location as both housing cost, livability and amenities play a major roll in a firm's ability to attract top-end talent. Miami has the low pricing when compared with other major cities without sacrificing the quality of life and the city features all of the amenities that highly paid and educated employees seek including top-tier restaurants, recreation and culture. The low cost with a high quality of life in Miami would make it easy for Amazon to attract top-end talent. Some factors that hurt Miami is the lack of public transportation and traffic congestion.

Downtown Miami's Planned YOTEL Will Launch As Residential-Hotel Hybrid Concept YOTELPAD Miami

YOTEL, which was approved in July by Miami's Planning & Zoning Department, will launch as the first East Coast location of their new YOTELPAD concept. Located at 227 NE 2nd Street in Downtown Miami, the YOTELPAD will be a 29 story tower designed by Stantec which will include both 208 residential units and 250 micro-sized hotel units. The building will be split with the residential units on top of the hotel units. Residential units come in 425 SF studios, one-bedroom and 700 SF two-bedroom floor plans; pricing starts at $250,000 and units will come fully furnished and move-in ready. Residential units will have the ability to be rented for short term via the hotel's rental pool. The YOTEL is being developed as a joint venture between AQARAT, a Kuwaiti real estate company, and Aria Development Group.

“Downtown Miami is emerging as a high-energy place to live, shop and work. With YotelPad Miami, we are meeting the strong demand for service-oriented, urban-chic apartments. In addition, owners have the unique opportunity to participate in a short-term rental program. Together with the Yotel brand, we are delivering a thoughtful, value-luxury experience in a dynamic location,” said David Arditi, Principal of Aria Development Group.

Terra Sells The Publix Anchored Doral Commons Retail Center to Jamestown, L.P.

Doral has been a hotspot for growth with intense demand for stable assets. Recently, Terra’s Doral Commons retail plaza sold to Jamestown, L.P. for a reported $71.6 milllon. The 140,000 SF shopping center was 95% leased at the time of sale with anchor tenant Publix Supermarket alongside TJ Maxx, Citibank, GNC, AT&T Wireless, McDonald’s, and others. Cushman & Wakefield represented Terra in the transaction. Doral Commons is located at the intersection of northwest 74th Street and 107th Avenue, and was initially part of a 100-acre tract acquired by Terra co-founders David and Pedro Martin in 2012. Terra subdivided the land into commercial and residential uses and completed the construction of Doral Commons in 2015. Terra's 319-home Modern Doral development is located directly next-door to the retail center.

“The commercial growth underway in Doral is one of the most exciting stories playing out in South Florida’s real estate landscape,” says David Martin, president and co-founder of Terra. “Rising demand for retail, office and industrial real estate is being fueled by a growing residential population, the City’s desirable lifestyle, and improving infrastructure and transit options. Terra developed Doral Commons with the goal of attracting a tenant mix that would meet the everyday needs of nearby residents, and the success of that formula ultimately led to this sale.”

“The Doral Commons sale coincides with a surge of retail leasing activity in Doral which is creating heightened demand among sophisticated investors such as Jamestown,” according to Mark Gilbert, Executive Managing Director of Cushman & Wakefield’s South Florida capital markets team. “This is a case of Terra taking a forward-looking approach to acquiring a site, recognizing a void in the market, and creating value through execution and leasing. (sic) Doral’s retail occupancy rate is in the 98 percent range, according to our firm’s latest retail report, and that number should hold given Doral has become a live-work-play community and remains one of the most dynamic markets in the Southeast for all property types in the eyes of core real estate investors. The fact that Doral is one of the fastest-growing cities in the Southeast is special, but it’s the quality of residential and employment growth that makes it a must-own market for institutional investors.” 

Check-Out Wellness Inspired Amrit Ocean Resort & Residences Coming to Singer Island in Palm Beach

Amrit Ocean Resort & Residences has released new interior renderings of their wellness inspired hotel-condo coming to Singer Island in Palm Beach. The project is unique in the sense that each resident will receive a customized wellness program set just for them and a 24/7 wellness advisor. Amrit Ocean Resort & Residences will feature 351 units in total with 100,000 SF of wellness amenities including an outdoor spa, meditation garden, outdoor yoga studio, an oceanfront restaurant, and a private beach club with cabanas, water sports and lounge chairs; all located on 7 acres of waterfront on the Atlantic Ocean. The project was designed around "The Five Pillars" which focus on nutrition, fitness, mindfulness, sleep and relaxation. Amrit Ocean Resort & Residences was designed by S&E Architects and features interiors designed by Bilkey Llinas Design. Pricing for units starts around $700,000 and ranges to over $4 million while unit sizes range from 1,460 SF to 2,525 SF with penthouses available at 3,350 SF. Penthouses come complete with rooftop terraces, summer kitchens and hot tubs. Amrit Ocean Resort & Residences is located at 3100 North Ocean Drive, Singer Island, Riviera Beach and is being developed by Creative Choice Group in partnership with ESPA and the Himalayan Institute.

Miami Worldcenter Releases New Renderings As Developers Seek To Modify Block D

Just days after PROFILEmiami reported that Miami Worldcenter Associates have closed on a $43 million construction loan for the retail component of the $2 billion Miami Worldcenter mixed-use mega-project in the Park West neighborhood of Downtown Miami, the developers have applied for permission to modify their design for Block D. Block D is currently under construction and the proposed changes includes the exterior finishes and façades including artwork by Franz Ackermann and integrated projected panel and fin systems. Ackermann will maintain the art for 5 years. Miami's Urban Development Review Board (UDRB) will review the proposal on January 17. Miami Worldcenter Associates, led by Art Falcone and Nitin Motwani, are developing Miami Worldcenter in partnership with Taubman Centers, The Forbes Company, and MDM Group. The master plan was designed by Elkus Manfredi Architects and the project includes the PARAMOUNT Miami Worldcenter condo tower being developed by Paramount Ventures led by Dan Kodsi, a 1,700-key Marriott Marquis Miami Worldcenter Hotel & Expo as well as a 45-story office tower being developed by Hines.

A New Hotel Dubbed Bohemian House Has Been Proposed On Washington Avenue In South Beach

A new 5-story hotel has been proposed on Washington Avenue in South Beach and will be reviewed by Miami Beach's Historic Preservation Board on January 9. The hotel will be developed by Acastar Miami, LLC., led by Genaro Enrique Gallo and the site is located at 1409-1413 Washington Avenue. The hotel has been dubbed Bohemian House and would blend both old and new via the renovation of the existing historic structure as well as the addition of a new 5-story modern structure. Bohemian House would bring 50 hotel rooms that average 245 SF to Washington Avenue along with retail and parking. 

NP International Secures $158.4 Million In Construction Financing & Gears Up To Break Ground on Gables Station

NP International has locked down a $158.4 million construction loan and are gearing up to break ground on Gables Station, a transit-oriented mixed-use project with 120,000 SF of retail space, 500 residential units and 66 hotel units. Developer Brent Reynolds plans to break ground before the end of Q1 2018. The financing was provided by Bank of the Ozarks and comes on the heels of Life Time Fitness signing a lease for 90K SF of retail space at Gables Station. NP International will also provide funding to develop a portion of the proposed Underline Park. NP International acquired the land adjacent to Merrick Park and Miami's Metrorail in Coral Gables at 251 South Dixie Highway in 2016 for $60 million. Construction is expected to be completed by Q3 2020.