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

PROFILE Exclusive Podcast Season 1 Episode 9 Featuring Jacques Bessoudo of Galium Capital

Season 1 Episode 9 of the PROFILE Exclusive Podcast by PROFILEmiami features Jacques Bessoudo of Galium Capital. Jacques serves as Managing Partner of Galium Capital, a Miami-based private equity group which he founded in 2018. Galium Capital invests in and manages over $600 million of commercial property in major markets across the United States. Galium Capital’s portfolio comprises of multifamily, office, and retail assets across various major national markets including Houston, Palm Beach and Washington DC, amongst others.

Previous to founding Galium Capital Jacques oversaw the management of over 200 single-family homes across South Florida and spent eight years with The Boston Consulting Group, one of the top global strategy consulting firms. Jacques holds an MBA from Harvard Business School, and a BA in Finance from ITESM.

The PROFILE Exclusive Podcast by PROFILEmiami, the leader in South Florida residential and commercial real estate news and content, profiles and gets intimate with the movers and shakers in the South Florida real estate industry. Throughout the series we will interview and get inside the minds of South Florida's top developers, investors, brokers, architects, designers, etc. The PROFILE Exclusive Podcast is hosted by Demetri Demascus Co-Founder of PROFILEmiami and Director of Business Development at private equity group Galium Capital as well as Katya Demina, Co-Founder of PROFILEmiami and Development Associate at development firm Royal Palm Companies.

This Podcast is Presented By:

AMIRI Opens Flagship Store In Miami Design District

AMIRI has opened its Miami flagship store marking the brand’s fourth retail location in the United States. Situated in the heart of Miami Design District, this environment of contemporary art and craft reflects AMIRI’s own and is imbued in the store’s design language, articulated by an all-white minimalist façade that sits in harmony with its neighborhood. Designed by CEO and Creative director Mike Amiri in collaboration with Paris Design Studio NOCOD and architectural design firm TwoOneTwo, the new boutique brings the spirit of AMIRI to Miami, expanding the house’s codes in harmony with the city’s stylistic roots.

The Miami Design District location spans 1,972 square feet spread over two floors. The interior plays with materials that highlight the house’s codes of dualism and craftsmanship, pairing industrial suspended brushed stainless-steel rails with natural solid wood details. A monolithic spiral staircase crafted in white concrete acts as an ambitious architectural centerpiece. Custom plastered and hand-finished by New York-based Kamp Studios, the design draws smooth curves that nod towards Miami’s modernist character.

The flagship features furnishings curated by Mike Amiri in partnership with interior designer Katherine Waronker, and plants from AMIRI’s native California. Continuing AMIRI’s strong relationship with Los Angeles artist Wes Lang, whose work proudly hangs in AMIRI’s Rodeo Drive, SoHo and Las Vegas stores, two site-specific works by Lang greet visitors on the ground level: ‘Yes, The River Knows’, 2019, and ‘One Winter,’ 2018. Upstairs, ‘We Got Drunk Here / We Danced Here’, 2020, by Columbian-born, Spanish-based artist Armando Mesías, who is represented by LA’s Galerie Ground, frames the space.

The ground floor is devoted to menswear, housing the ready-to-wear collection alongside footwear and accessories, while the second level carries AMIRI womenswear, acting as an exclusive preview before the line’s global launch on 27th January.

Alongside AMIRI’s core collections, the flagship hosts an exclusive Miami capsule distinguished by crisp, summer colorways that echo the heritage Art Deco hues synonymous with Miami’s Design District and the city’s tropical personality. Soft jersey staples are offered alongside bone appliqué jeans, Crochet Bandana knits and silk Cabana Sets drawn in clay, alabaster and Miami blue tones, while paint-splatter swim trunks speak of Miami's famous South Beach and a new logo is introduced, written in neon pastel with incorporated palm tree imagery.

AMIRI Miami is located at 106 NE 39th Street, Miami and is open Monday - Saturday 11 AM - 8 PM and Sunday 12 PM - 6 PM.

Photography: Kris Tamburello

The Allen Morris Company And Xenel International U.S.A. Launch The Residences At Xentury City In Osceola County

The Allen Morris Company, one of the largest diversified real estate firms in the Southeast, and Xenel International U.S.A., a diversified company and long-term landowner, have launched Residences at Xentury City, a $75 million multifamily development located in Osceola County. The project will transform the current site into a thriving multifamily destination. Groundbreaking for the project is scheduled for Q1 2022 and is slated for completion in Q2 2023.

The 293,000 square feet of space will contain five garden-style buildings, 311 residential units, a leasing center and world-class amenities throughout. The project site is located adjacent to the Gaylord Palms Resort and Convention Center.

Dwell Design Studio, an award-winning architecture, planning and interior design firm, and Shim Studios as interior designer will spearhead the project.

“The Osceola corridor has seen some of the largest net in migration in the nation generating demand for quality housing,” said Spencer Morris, Chief Investment Officer of the Allen Morris Company. “The Residences at Xentury City are the first phase of a larger mixed-use vision that will transform this area within Osceola County into a dynamic live, work, play neighborhood with first-class dining, entertainment and residential offerings.

Xenel International U.S.A. and its affiliates own Xentury City which sits on 380 acres of land in Orlando, FL. Tenants of Xentury City include the Gaylord Palms Resort and Convention Center which includes over 1,700 rooms and suites as well as 500,000 sq ft of convention and meeting space.

Xentury City is close to all the theme parks including Disney World and Universal Studios and has developed a major transportation network to access the site. The site is also 30 minutes from Downtown Orlando and 20 minutes from Orlando International Airport.

The Allen Morris Company is one of the largest real estate firms in the Southeast U.S., completing their 85th development project and specializing in office buildings, multi-family residential, hotels, mixed-use developments, leasing and brokerage, and property management. The Allen Morris Company was founded in 1958 and has offices in Miami, Coral Gables, Fort Lauderdale, Orlando, and Atlanta.

Xenel International U.S.A. is a holding company headquartered in Westlake Village, California. It was founded in 1979 and developed and led numerous business ventures. The team has taken companies through all phases of development from conception to maturity in a variety of industries.

Mast Capital Breaks Ground On Second Phase Of Waterline Miami River Multifamily Development

A partnership between Mast Capital and global real estate investment firm AEW Capital Management has launched the second phase of Waterline Miami River, which will bring the full development to a combined 688 apartment units. The second phase will consist of 342 rental units on a 2.7-acre development site with over 400 feet of unobstructed water frontage along the Miami River. The joint venture has secured financing from Wells Fargo for the project’s construction set to begin in January 2022.

One of the early developers to recognize the Miami River’s potential as an active waterfront community, Mast Capital acquired its first piece of land along the riverfront in 2018, developing the initial phase of Waterline Miami River with AEW, and since then, the Miami River District has continued to thrive with restaurants, outdoor entertainment and residential living. Mast Capital delivered the first phase of Waterline Miami River, a 346-unit luxury multifamily community, in late 2020 and reached stabilization just eight months after its completion. 

The second phase will be comprised of studios, one-, two-, and three-bedroom units spanning approximately 280,000 rentable square feet and masterfully crafted community amenities. The project’s general contractor is Kaufman Lynn and the architect is Corwil Architects.

Residences will feature European kitchens, modular European closets, washer and dryer, private large balconies, premium quartz countertops, and stainless-steel appliances. Residents at Waterline Miami River will enjoy breathtaking views of the Miami River and the Downtown and Brickell skyline.

Amenities will include state-of-the-art fitness center, a one-acre park, a dog park and open recreational area, 24/7 package and dry-cleaning lockers, tech hub and flex office spaces for residents working remote, conference rooms, WiFi in social hubs, private access parking, pet spa with washing station, and secure bike room with repair station.

“The Miami River has long been seen as a working waterway, but it’s also becoming a thriving residential neighborhood. The population growth and strong demographics Miami is experiencing will continue to fuel growth along the riverfront,” said Camilo Miguel, Jr., CEO and Founder of Mast Capital. “Since pre-leasing commenced at Waterline Miami River, we saw high demand for the apartment community given the lifestyle offerings in the surrounding neighborhood and strategic location near Miami’s thriving urban core. We are confident that phase two will experience similar demand given the need for additional rental housing and the increased desirability of the Miami River District.”

Waterline Miami River is located just half a mile south of the Miami Health District, which employs 45,000 and draws 160,000 annual visitors and is recognized as the second largest health district in the U.S., and within 1.5 miles of Downtown Miami and the Brickell Financial District.

According to the Miami River Commission, Miami River’s shorelines feature public river walks, nine major parks, five major hotels, over 11,910 new residential units, 25 restaurants and over a dozen boatyards, marinas and historic sites. There’s also an additional 6,667 approved units, five planned hotels with 1,200 new rooms and 22 planned restaurants in the works.

Cantina La Veinte Space In Icon Brickell Trades For $18.8 Million In Off Market NNN Deal

The waterfront retail condo in Icon Brickell that is home to hotspot Mexican restaurant Cantina La Veinte, or Cantina La 20, has sold for $18.8 million. The tenant will remain in place with a brand-new 15-year lease, with 2 and 5-year renewal options. The two story retail condo spans 11,176 SF and is located on the Brickell Baywalk. Fabio and Sebastian Faerman of FA Commercial represented both the buyer and the seller in the off market NNN transaction.

The transaction brings the property full circle for FA Commercial as they initially represented the current seller when they first acquired the property pre-construction. FA Commercial later leased the property to Cantina La Veinte, then sold the retail condo with the tenant in place and now has sold retail property once again.

Icon Brickell is a waterfront 3-tower complex situated in the financial district of Miami which is also home to the W Miami Hotel and Cipriani Downtown Miami. Icon Brickell is located on the Brickell Baywalk and is a few blocks from Mary Brickell Village. Cantina La Veinte is located in Tower 2 at 495 Brickell Ave.

Images via FA Commercial

Kushner Cos. And Aimco Acquire Fort Lauderdale Development Site For $49 Million, To Build City's Tallest Tower

A partnership between Kushner Cos. and Aimco (NYSE: AIV) has acquired a development assemblage in Fort Lauderdale for $49 million and plan to develop Fort Lauderdale’s tallest tower. The development partnership acquired a 1.87-acre site at 520 W Broward Blvd. for $35.5 million from Swire Properties as well as a 2.31-acre site at 300 W Broward Blvd. for $13.5 million. The acquisition was financed with a $40 million mortgage provided by MSD Partners.

The towers would rise 48-stories, 546’. The tallest building in Fort Lauderdale is currently the 46-story 100 Las Olas. The project would feature 956 rental apartments, 23,752 SF of commercial space and 1,031 parking spaces. The tower was designed by ODA Architecture and features two towers joined by a 10-story base which will house the amenities including a fitness center, library and resident’s lounge. Atop the landscaped podium will be sunrise and sunset pools, cabanas and a yoga deck. Plans for the project were submitted to the City of Fort Lauderdale for approval in late 2021.

Renderings via ODA Architecture

Wharton Realty Group Acquires Homestead Pavillion Shopping Center For $82 Million

The New Jersey-based Wharton Realty Group has acquired Homestead Pavillion Shopping Center for $82 million from a joint venture including CREC Capital, Highline Real Estate Capital, MMG Equity Partners, and Lubert-Adler Real Estate funds. CREC Capital’s co-founders Alan Esquenazi and Warren Weiser facilitated the sale of a 298,000 SF retail center located at 2400 NE 10th Ct in Homestead. Danny Finkle and Eric Williams from JLL represented the buyer in the transaction.

“The transaction represents a strategic acquisition for the New Jersey-based real estate company to position themselves in an expanding bustling market,” said Alan Esquenazi, Co-Founder & Partner of CREC Capital. “The purchase further validates the strength of the South Florida retail market and the robust recovery in retail space post-pandemic.”

During the pandemic, the JV ownership group fully leased the property by securing tenants including Sprouts Farmers Market, Target, Dr. Limon, and Body Details. This dominant retail center in southern Miami-Dade County serves Homestead, Cutler Ridge, and the Florida Keys. The joint venture retained ownership of Target, Raising Canes, and Murphy Oil.

“Despite the pandemic’s challenging effects on the marketplace, we were able to line up anchor and in-line tenants which elevated the existing tenant base and supported a favorable execution for both sides of the transaction,” said Warren Weiser, Co-Founder & Partner of CREC Capital.

Wharton Realty Group is a premier real estate company based in New Jersey focused on managing and leasing diversified properties across the country with over one thousand tenants.

The resilience of the South Florida retail market throughout the pandemic has made it a hot spot for retail investors. Investment sales volume for retail assets in Miami-Dade County surged by 164.3% in 2021 reaching a total deal volume of $577 million, compared to the pre-pandemic year 2019 where the total trade volume of retail assets was $218 million.

KAR Properties Locks Down $128 Million Condo Inventory Loan For 2000 Ocean In Hallandale Beach

KAR Properties, led by Shahab Karmely, have closed on a $128 million condo inventory loan for the recently completed 2000 Ocean in Hallandale Beach. Madison Capital Realty provided the loan which will be used to pay off a $103 million construction loan issued by Apollo Commercial Real Estate Finance in 2018. 2000 Ocean was completed in December 2021 and closings are set to begin January 14, 2022.

KAR Properties first launched sales for the project in October 2017 with Douglas Elliman Development Marketing before partnering with Edgardo Defortuna’s Fortune International Group to take over sales and marketing in August 2018. The project officially broke ground in November 2018 with Suffolk Construction as the contractor.

2000 Ocean rises 38 stories, providing spectacular views of the Atlantic Ocean and Intracoastal Waterway. The boutique condo tower, which is designed by Enrique Norten of TEN Arquitectos with concept design by Kobi Karp Architecture & Interior Design, landscape architecture by Sasaki and interior design by Minotti.

The project features 64 residences, the smallest being a 2,913 SF half floor 3 bedroom and ranging up to 5,832 SF full floor 5 bedroom penthouse residences. 2000 Ocean also features a duplex sky vill which comes complete with a private pool deck. Residences are designed by Minotti and feature expansive flow through floor plans, 10' ceilings, private elevator landings, floor-to-ceiling windows, custom kitchens by Minotti Cucine, Monterrey Marble flooring throughout including terraces, custom stone master bath with Agape floating bathtubs.

Services and amenities include two swimming pools with expansive sunrise and sunset views, direct beach access with private beach, private arial and valet entrance, 24-hour valet and concierge, an oceanfront library with garden views, an oceanside lounge and juice bar, an indoor theater, entertainment room, fitness center and a freestanding spa pavilion complete with treatment rooms, Hammam (steam bath), ice room and yoga room. The lushly landscaped grounds feature curated gardens by Landscape Architect Sasaki Associates. The original design concept architect for the project was Kobi Karp.

Prices at 2000 Ocean ranged from $2.6 million to $4.4 million and penthouses ranged from $8 million to $12 million. Remaining developer units start at $3.1 million and range up to more than $10 million for penthouse residences.

For more information about 2000 Ocean, private showings or purchasing/ leasing information please fill out the form below: