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New-To-Market Tenants Spur Wynwood Office Demand

Wynwood is becoming Miami’s busiest office submarket as demand for space is far surpassing current supply due to its attractive live-work-play environment, with more than 80% of its recently leased office tenants being new-to-market and a million square feet of office space in the pipeline.

Coming up new-to-market tenants in Wynwood in the first quarter of the year include Blockchain.com at CUBE Wynwd at 222 NW 24th St, with 21,952 square feet of office space; OpenStore at the Gateway at Wynwood in 2916 N Miami Ave., with 14,914 square feet of office space; and Neocis at 545 NW 26th St., a medical equipment manufacturer leasing 38,000 square feet of office space.

Other firms opening shop in Wynwood include Barry’s Bootcamp, a new 9,000-square-foot fitness center in 2214 NW First Place; Actuate Law, a new 3,000-square-foot law firm in the 545 Wyn building; and Levine Leichtman Capital Partners, who opened in 4,020 square feet in 112 NE 41st St. All of these opened in the last quarter of 2021.

DWNTWN Realty Advisors led a $49 million sale of the Wynwood Annex office tower in Wynwood, which has 60,000 square feet of rentable office space, to new-to-market San Francisco investors Brick & Timber Collective. Wynwood Annex has leased all of its office space within six months to new-to-market venture capital, technology and finance firms such as Founders Fund, Live Nation Entertainment and Atomic Venture Capital.

 

Source:  Miami Today

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