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.

Sumaida + Khurana and Bizzi & Partners Announce Alberto Campo Baeza-Designed Office Building In South beach

Two internationally recognized real estate development firms – Sumaida + Khurana and Bizzi & Partners - have announced a new joint venture to develop best-in-class buildings across the United States. Their first project is an office building located in South Beach and designed by renowned Spanish master architect Alberto Campo Baeza. The developers’ objective is to deliver a Class A+ building that sets a new benchmark for architecture and quality in the office market. Perfectly situated at the entrance to Miami Beach from the MacArthur Causeway, it will be Baeza’s first building in Miami, as well as his first commercial building in the United States. Sumaida + Khurana is led by Saif Sumaida and Amit Khurana. Bizzi & Partners is headed by CEO Davide Bizzi and Managing Director Alessandro Pallaoro.

Bizzi & Partners and Sumaida + Khurana are individually known the world over for developing some of the most significant real estate projects in the world, collaborating with critically acclaimed designers. Bizzi & Partners, which has offices in New York, Milan, São Paulo, and Tallinn, worked with Pritzker Prize winning architect Renzo Piano to design both 565 Broome SoHo in Manhattan and Eighty Seven Park in Miami. The firm also developed the Langham Hotel in New York, designed by Charles Gwathmey. The firms recently decided to collaborate and will develop a wide range of luxury residential and commercial buildings across America through the new partnership. New York-based Sumaida + Khurana collaborated with Pritzker Prize winning architect, Tadao Ando to design 152 Elizabeth Street, as well as Pritzker Laureate, Alvaro Siza for 611 West 56th Street.

While the firms have generally focused on luxury residential development, the new partnership is also focused on elevating the quality level of office development by delivering the architectural pedigree, custom quality finishes, bespoke amenities and services delivered at their residential projects.

“We are happy to be entering into this new joint venture and are excited by the opportunity to be collaborating with Alberto Campo Baeza. His work speaks to both firms’ shared set of beliefs to create timeless buildings that are contextually appropriate and that thoughtfully consider the historic architecture of neighborhoods like South Beach,” said Davide Bizzi, Chief Executive Officer, Bizzi & Partners.

“We have a great deal of respect for one another’s projects and approach to development. We share in the vision to create seminal buildings that add significant value to the built environment. Alberto Campo Baeza’s buildings are known for their purity of design and subtle detailing. Similar to the other projects that our firms have developed, Campo Baeza’s design will provide the opportunity to deliver a building of exquisite craftsmanship and quality,” said Amit Khurana, Founding Partner, Sumaida + Khurana.

In the coming months, Sumaida + Khurana and Bizzi & Partners plan to release more details about the Baeza building, which is expected to start construction next summer. Project executive architect is the award-winning firm, Cube 3. World renowned architecture firm, Gabellini Sheppard is designing interiors. Miami-based Urban Robot Associates is the project’s landscape architect.

The building will be made of white concrete, glass, and marble. Many of its features including high ceilings, open and flexible floorplans, expansive private outdoor terraces for all offices, floor-to-ceiling windows, a fitness center, multiple F & B venues, and a large atrium that opens up all of the offices to a dramatic experience of light, air, and outdoor space for tenants, and a private rooftop with expansive water views.

Based in Spain, Baeza has been widely recognized for his work including winning his country’s National Prize for Architecture in 2021. He has designed the Houses Turégano and de Blas, both in Madrid, the Gaspar House, Asencio House in Cádiz, Rufo House in Toledo and Moliner House in Zaragoza. He has also designed the BIT Center in Inca-Mallorca, the public space Between Cathedrals, in Cádiz, the Caja de Granada Savings Bank and the Museum of Memory of Andalucía, both in Granada. In 2020, he won the competition for the new bridge over the Piave River in Belluno, Venice.

Bizzi & Partners and Sumaida + Khurana are currently in the process of finalizing details on additional developments they plan to announce in the near future.

Global Law Firm Reed Smith Signs 22K SF Lease at Southeast Financial Center in Downtown Miami

JLL has announced that Reed Smith, an international law firm placed in The American Lawyer's AmLaw 50, has leased 22,495 square feet of office space on the 26th floor of Southeast Financial Center, downtown Miami’s premier office tower. The law firm, previously located in Brickell, is relocating to downtown as it seeks to expand its presence in Miami.

Reed Smith was represented by Barbara Liberatore Black, Managing Director of JLL South Florida, and Jeff Gordon, Executive Vice President. On the agency leasing side, Eric Groffman, Managing Director, and Cameron Tallon, Senior Vice President, represented the building’s ownership, Ponte Gadea Biscayne.

Reed Smith, which established its Miami presence in 2017, has 30 offices worldwide. The firm’s Miami office is home to lawyers whose practices focus on commercial disputes, entertainment and media, finance, insurance recovery and international arbitration. The Miami team also has deep connections to clients across Latin America.

“In the four years since establishing a presence in Miami, we have built a formidable team with strong relationships within the region’s business and legal communities and the state and local government, while also advising domestic and global companies currently or seeking to do business in South Florida,” said Constantine Karides, managing partner of Reed Smith’s Miami office.  “As a result, when considering relocation, we prioritized a space that allowed for continued and sustained growth and served as a physical representation of Reed Smith’s reputation in the market – thriving, soaring, energetic, and well-connected.  Southeast Financial Center met each of those criteria and I speak for all of my Miami-based colleagues in expressing our excitement in making the move.”

Situated in the heart of downtown Miami’s Central Business District, Southeast Financial Center has a total of 1.2 million square feet, making it the city’s tallest and largest office tower. The property is comprised of a 55-story office tower and features a 30,000-square-foot outdoor plaza, complete with beautiful landscaping, seating area and café and dining options. The tower also sits across from the city’s free Metromover and less than a mile from I-95, making it one of downtown’s best-connected office buildings.

“Miami continues to see an influx of businesses relocating or expanding here, with Southeast Financial Center being one of the most sought-after office addresses,” said JLL’s Eric Groffman. “Southeast Financial Center is the tower of choice because it puts its tenants door-to-door with some of the city’s leading financial and professional services firms and provides access to residential towers, major retail lifestyle destinations and numerous cultural and performing venues.”

By Katya Demina

Foster + Partners-Designed Safra National Bank Headquarters Revealed As 3050 Aventura

Following the demolition of the Safra National Bank building in Aventura, site work is now underway on 3050 Aventura. The new office building will serve as the headquarters for Safra National Bank of which an affiliate, 3050 Aventura Owner LLC, is developing the project. 3050 Aventura will replace the former 3-story office building which was built in 1991 and acquired by Safra National Bank for $11.5 million in 2009.

Plans for 3050 Aventura were first submitted to the City of Aventura in December 2020 to redevelop the 1.31-acre site. 3050 Aventura was designed by Foster + Partners with ODP Architects as the architect of record. The project will rise 12-stories and will feature 113,650 SF of office space along with 386 below-grade parking spaces. Plaza Construction is the general contractor. The project expects to receive LEED Gold Certification.

Safra National Bank of New York is a commercial banking institution that serves high-net-worth individuals, large businesses, and international corporations through branches in New York and Miami. Safra National Bank offers wealth management, brokerage services, bond trading, lease financing, and correspondent banking. Safra National Bank of New York is affiliated with Banco Safra S.A., one of the largest private banks in Brazil which was founded by Brazilian billionaire-banker Joseph Safra.

Images via ODP Architects

Wynwood Annex Class-A Office Building Hits 100% Occupancy As Ramp Financial And Field Trip Sign Leases

Related Group and East End Capital’s Wynwood Annex Class A office building has hit 100% occupancy as tech firm Ramp Financial and psychedelic health company Field Trip have signed new leases. DWNTWN Realty Advisor’s Tony Arellano and David Lerner represented the landlord in finalizing deals with Ramp Financial, a technology company that develops corporate cards designed to save money for businesses, and Field Trip, a health company that uses evidence-based, legal psychedelic therapies to help patients heal depression and feel better.

Ramp Financial is set to occupy 8,205 square feet on the fifth floor of the 215 NW 24th St. building. Tony Jones of Cushman & Wakefield represented Ramp Financial in the lease. Field Trip is leasing 7,474 square feet on the second floor of Wynwood Annex.

These new leases come on the heels of DWNTWN bringing three Silicon Valley tenants to Wynwood Annex. Venture capital giants Founders Fund, which includes PayPal Co-Founder Peter Thiel as a partner, Atomic and their e-commerce joint venture OpenStore signed leases for a total of more than 22,000 square feet at the building. Live Nation also occupies a floor of Wynwood Annex.

“We are proud of our role in curating Wynwood Annex with a roster of tenants who are truly changing the industries they operate in,” Arellano said. “Leaders of the technology and finance worlds who are relocating to Miami realize Wynwood is where they need to be. All of the complementary elements, such as arts and culture, fashion, experimental and service-oriented retail, dining, nightlife and residences, are already in place.”

Located in the core of Wynwood and just steps from prime neighborhood establishments such as Panther Coffee, Zak the Baker and KYU, Wynwood Annex has 60,000 square feet of rentable space and a generous parking ratio of four spaces per 1,000 square feet. With 12-to-18-foot ceiling heights and amenities including a brand-new fitness center, rooftop common area, outdoor conference space and private balconies, the building is perfectly suited for the tech and finance tenants it is attracting.

The CocoWalk Mixed-Use Property Reaches 100% Leased in Miami’s Vibrant Coconut Grove

Less than a year since its reopening, the newly renovated CocoWalk mixed-use property announces its retail and office components are fully leased in Miami’s vibrant Coconut Grove neighborhood. Following an extensive multimillion-dollar renovation, the property now features 150,000 square feet of prime retail space leased to leading local, national and international restaurant and retail brands and a newly built, 85,745-square-foot office building that is home to regional and global businesses. The mixed-use property is owned by a joint venture comprised of Federal Realty Investment Trust (NYSE: FRT), The Comras Company and Grass River Property.

“The office and retail leasing success CocoWalk has achieved demonstrates how Coconut Grove is becoming a leading destination for business and leisure,” said Stuart Biel, senior vice president of regional leasing at Federal Realty Investment Trust. “The diverse mix of service-oriented retail, chef-driven restaurant concepts and entertainment the reimagined CocoWalk offers will serve locals and visitors alike, while also providing onsite amenities to the daytime population occupying our office spaces.”

Along with reaching 100% leased, CocoWalk has completed leasing its office spaces attracting seven companies representing the financial and investment, hospitality and cruise industries, amongst the fastest growing in the region. The latest businesses to ink office leases are: cruise line Azamara; Creating Culinary Communities, or C3, a company led by Sam Nazarian, the founder of global hospitality firm sbe Entertainment Group that operates multiple SLS, Mondrian and Delano hotel locations; Uno Management Services; Lagoon Advisors, an investment banking advisory firm; Baymount Management, an investment management firm; The Jordan Company, a private equity firm with offices in New York, NY; Stamford, CT and Chicago, IL; and OC Investment Management, LLC.

Following the extensive remodel, CocoWalk now features three levels of prime retail space, the newly built class A office building One Cocowalk and renovated office space on the property’s west side known as Two Cocowalk. New-to-market tenant The Jordan Company is leasing 12,717 square feet; Uno Management Services will occupy 8,273 square feet; Lagoon Advisors will take 3,510 square feet; Baymount Management 1,928 square feet; and OC Investment Management, LLC another 1,247 square feet at One Cocowalk. Meanwhile, upscale cruise line Azamara inked a 9,286-square-foot lease; and C3 will occupy 9,205 square feet that will be home to its headquarters, a test kitchen, and culinary institute at Two Cocowalk.

The newly signed companies join an office tenant roster that includes American Land Ventures, international law firm Weinberg, Wheeler, Hudgins, Gunn & Dial, LLC, private equity firm Boyne Capital, and creative co-working pioneer Spaces. Amenities at the office building include dedicated elevators connecting office users with private parking, 24/7 security, a full-service, on-site gym and access to the building’s rooftop terrace and event space that overlook Coconut Grove’s lush tree canopy and bay views.

The exclusive leasing agent for the office space at CocoWalk is Blanca Commercial Real Estate led by Founder, Chairman and CEO Tere Blanca, Executive Vice Chairman Danet Linares and Vice Chairman Juan Ruiz.

“The successful leasing of CocoWalk’s office component has been a result of the quality office space, strategic location and direct access to dozens of dining and shopping options that the property offers,” said Tere Blanca, Chairman and CEO of Blanca Commercial Real Estate.

Among the restaurant and retailer concepts already signed at CocoWalk are Planta Queen, Sushi Garage, Mister 01 Extraordinary, Botanico Gin & Cookhouse, Salt & Straw, Sweetgreen, Narbona Natural Foods & Farm Market, Bluemercury, Edward Beiner, Edite Mode and The Spot Barbershop.

Global Consulting Firm Slalom Signs 8,000 SF Lease At Sterling Bay's 545wyn

Global consulting firm Slalom will be moving into Wynwood after signing a lease at Sterling Bay and J.P. Morgan Asset Management’s 545wyn, Wynwood’s first-ever Class-A creative office building. The lease, which marks Slalom’s first office footprint in South Florida, covers approximately 8,000 square feet at 545wyn. Slalom is a $2.4 billion company with nearly 10,000 employees around the globe. The firm joins Gensler, the world-renowned architecture and design firm, and Love Life Café, a local vegan eatery, as tenants.

Sterling Bay’s Director of National Leasing, Jesse Van Dyke, negotiated the transaction. Newmark Knight & Frank’s Managing Director, Carlyle Coffin, and Executive Managing Director, Daniel Levine, represented the tenant.

“Slalom’s decision to open its first South Florida office location in Wynwood further solidifies the submarket as Miami’s next big hub for global innovation,” says Andy Gloor, Principal at Sterling Bay. “The property’s highly customized and ultramodern office features will enable Slalom to service clients in both North and Latin America, creating exposure for Wynwood in international markets and elevating the area’s reputation as an emerging destination for worldwide business.”

Slalom’s consulting services focus on strategy, technology, and business transformation with clients from top Fortune 500 companies, promising startups, established not-for-profits, and many other innovative organizations from around the world. Slalom has hired more than 50 local Miami residents since launching the Florida business and intends to hire several hundred more to build out the Florida business.

Slalom works differently,” said Beau Williamson, General Manager at Slalom. “Unlike typical consulting firms, Slalom consultants live in and are committed to the cities in which we work. We’re proud of our commitment not only to this premier office space in Wynwood, but also to the people of Miami as we hire locally to build out our business and create a positive impact on this community.”

Sterling Bay broke ground on 545wyn in January 2019 and completed the building in late 2020. Today, the 298,000 SF creative office and retail property offers future and current tenants access to large flexible floorplates and an unmatched suite of exclusive, highly sought-after healthy building amenities including a state-of-the-art wellness center, touchless elevator systems, vast outdoor lounges and high-quality air filtration systems. To reflect the artistic aesthetic of Wynwood, Sterling Bay commissioned a number of creative installations at the property, including three very prominent exterior murals, to engage local and international artists and establish a sense of place for tenants.

CI Financial To Launch US Headquarters At OKO Group and Cain International's 830 Brickell

Just one week after Microsoft announced that it would be taking 50,000 SF at 830 Brickell, CI Financial Corp., a leading Canadian asset and wealth management firm, has announced that they will open their new U.S. headquarters at the Class A-plus office tower which is under construction in the heart of Miami’s Brickell Financial District. CI Financial’s full-floor, +/-20,000 SF office will solidify 830 Brickell as the new address of choice for financial, professional services, and technology firms establishing and growing their presence in South Florida. The 55-story tower, a joint venture between OKO Group and Cain International, is scheduled for completion in 2022.

“Miami is an incredible place to establish our U.S. headquarters and support our fast-growing U.S. business,” stated Kurt MacAlpine, Chief Executive Officer of CI Financial. “It serves as the next logical step for our expansion plans as we work to build the leading wealth management platform in the country. In addition, Miami is a vibrant, multicultural city that offers a deep talent pool, an attractive location for recruiting and a very business-friendly environment. Locating at 830 Brickell puts CI at the heart of this dynamic city and its growing financial community.”

CI Financial becomes the second major financial tenant to lease space at 830 Brickell in the last few months, joining private equity firm Thoma Bravo, which recently announced plans for a 36,500 SF office in the tower. Last week, technology giant Microsoft announced plans to occupy 50,000 SF in the tower. 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.

“We are thrilled by CI Financial’s decision to make 830 Brickell the home of its U.S. headquarters. This move demonstrates the firm’s commitment to Miami and underscores the city’s rise as a hub for global and domestic businesses. Attracting a group like CI Financial is precisely what we envisioned when we decided to develop this best-in-class office tower in the Brickell Financial District,” said Jonathan Goldstein, CEO of Cain International.

“830 Brickell has become a natural fit for new-to-market finance firms establishing a presence in Miami,” said Ryan Holtzman of Cushman & Wakefield. “Offering tenants market-leading amenities, a walkable location in the heart of the Brickell Financial District, and access to several transit options and countless shops, restaurants and residences nearby, 830 Brickell is in a league of its own – the first trophy office tower to be developed in Miami’s urban core in more than a decade, and South Florida’s only building capable of accommodating tenants in the market for core Class A-plus space.”

A 2021 analysis of Downtown Miami’s finance sector surveyed the district’s emergence as a hub for asset managers and investment advisors. A report by the Miami Downtown Development Authority (DDA) and Convergence found that the number of S.E.C.-Registered Investment Advisors (RIAs) in Downtown Miami grew from 82 in 2018 to 111 through year-end 2020, a 35% net increase. Total Reported Assets Under Management in the district more than doubled from $75 billion in 2018 to $152.4 billion during the same period.

“The steady flow of financial firms into Downtown Miami is strengthening our position as Wall Street of the South, creating job opportunities for locals, bringing new life to our city streets, and supporting existing businesses in our community,” said Miami DDA Chairman and City Commissioner Manolo Reyes. “The arrival of CI Financial reflects the Miami DDA’s ongoing pursuit of finance and technology firms across the U.S. and abroad. Each day, companies from New York, Chicago, Connecticut, California and around the world are moving or expanding to Miami and growing their businesses, hiring talent, and offering their employees an improved lifestyle along with cost savings.”

The growth of Downtown Miami has been fueled an influx of businesses, investors and people. The list of recent businesses that have expanded into Downtown Miami includes Blackstone, Pipe, Point72, Moore Capital, Founders Fund, ShiftPixy, and BlockTower Capital. Greater Downtown Miami’s residential population now stands at 115,000, a 65% increase since 2010. The district is home to a daily population of more 250,000 people and attracts nearly six million visitors annually. This activity is opening the door to new entertainment, shopping and dining options, including restaurants, retailers, cinemas, grocery stores, museums and performing arts venues.

830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati. Together with OKO Group and Cain International, the designers have anticipated how the COVID-19 pandemic will reshape the future of business by incorporating new features into the plans, including ultraviolet lighting in air filtration systems, touchless technologies, world-class health and wellness center, a rooftop bar and first-class restaurant, and more.

The tower’s amenities include a rooftop restaurant and lounge with 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.

DePuy Synthes Product, Inc. Leases Palm Beach Gardens Office Space Expanding South Florida Footprint

DePuy Synthes Product, Inc., a Johnson & Johnson company, and a leading global provider of Orthopedics products, is expanding its presence in South Florida after signing a a 9,481 square foot lease at 4400 Northcorp Parkway in Palm Beach Gardens, Florida. DePuy Synthes Product, Inc. will occupy the build-to-suit space on the 2nd floor of the office building. DePuy Synthes Product, Inc. is slated to take occupancy in September 2021. 4400 Northcorp Parkway is owned by Alchemy-ABR Investment Partners, a fully integrated New York based real estate investment firm, together with its joint venture partner, Breakers Capital Partners, a Miami based real estate investment firm.

Alchemy-ABR Investment Partners was represented by Gavin Loughlin of Greenberg Traurig and Anthony Librizzi of Cushman & Wakefield in the transaction. DePuy Synthes Product, Inc. was represented by CBRE.

“4400 Northcorp Parkway is an ideal office setting for the most competitive industries and organizations and this lease is indicative of the strength of South Florida’s overall office leasing market,” said Brian Ray, Co-Founder and Managing Partner of Alchemy-ABR Investment Partners. “We’re committed to our tenants and are looking forward to welcoming DePuy Synthes Product, Inc. to 4400 Northcorp Parkway.”

4400 Northcorp Parkway is part of the larger office park, 4200-4400 Northcorp Parkway, that consists of two Class-A office buildings totaling 115,000 square feet. Completed in 1996, 4200-4400 Northcorp Parkway features extensive capital improvements including renovated, premium office fit-outs, contemporary base building lobby and common areas, as well as modern mechanical and roofing systems.

Located in the center of Palm Beach Gardens, the property enjoys convenient access to Palm Beach, Broward and Miami-Dade Counties and has attracted a diverse tenant base, further showcasing South Florida’s dynamic market. Alchemy-ABR Investment Partners and Breakers Capital purchased 4200-4400 Northcorp Parkway in 2016 and is currently renovating the lobby space of the 4200 Northcorp office building. The two firms jointly own additional commercial real estate assets across South Florida including 6111 Broken Sound Parkway in Boca Raton, Florida.

TriStar Capital and RAL Development Acquire Final Piece Of Wynwood Assemblage For $13 Million

David Edelstein’s TriStar Capital and RAL Development, led by Robert Levine, have closed on the final piece of their 72,000 SF Wynwood assemblage where an office campus is planned. The development partnership paid $13 million for a 31,250 SF site at 2701 NW 5th Ave., financed by a $12.1 million mortgage provided by Comerica Bank. The property currently has a 20,239 SF building that will be demolished to make way for an office campus that includes the adjacent 39,732 SF lot at 2661 NW 5th Ave. which TriStar Capital acquired in 2018 for $18 million. Combined the assemblage totals 70,932 SF and cost $31 million.

The developers are planning to build a modern, technologically advanced office campus targeted at Miami’s fast growing tech sector. The campus will feature two Arquitectonica-designed mixed-use 8-story office towers with roughly 300,000 SF of Class A office space.

Images via TriStar Capital