Within the largest workplace lease ever recorded in Miami’s Wynwood submarket, Amazon agreed to occupy 50,333 sq. ft at Wynwood Plaza, a 1 million-square-foot mixed-use improvement.
L&L Holding Co. and Oak Row Equities are the homeowners. Shorenstein Funding Advisers is the mission companion, whereas Claure Group serves as co-investor.
Cushman & Wakefield assisted the owner within the deal, alongside with in-house illustration, whereas Savills labored on behalf of the tenant.
Situated at 95 NW twenty ninth St., Wynwood Plaza is taking form 6 miles from downtown Miami and may have entry to interstates 95 and 195. Miami Worldwide Airport is a few 8 miles west.
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Miami’s workplace emptiness fee on the finish of December clocked in at 15.2 p.c, posting the bottom fee among the many high U.S. markets, the newest CommercialEdge workplace report exhibits. Regardless of a 110-basis-point improve, the metro’s determine was decrease than the 19.8 p.c nationwide common.
A mixed-use campus in Miami’s Artwork District
The mixed-use campus broke floor in March 2023, after the developer secured a $215 million building mortgage from Financial institution OZK. The mission is scheduled for completion within the following months.
Wynwood Plaza will comprise a 12-story Class A, 266,000-square-foot workplace constructing and a residential element that may characteristic 509 luxurious rental flats. The property will even embody 25,000 sq. ft of retail and a 26,000-square-foot outside public plaza.
The workplace element may have numerous facilities reminiscent of a health heart, a restaurant and bar lounge, rooftop non-public seating areas and convention areas. Floorplates will vary from 23,756 to 25,205 sq. ft.
L&L Holding Co. Vice President Bryan Lapidus, along with Cushman & Wakefield Managing Director Andrew Trench, Senior Director Edward Quinon and Vice Chairman Brian Gale, labored on behalf of the owner. Savills Government Managing Director Tom Capocefalo and Vice Chairman Mike Catalano represented the tenant.
