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Leasing Activity Heats Up At The Gateway at Wynwood

As Miami continues to experience a post-pandemic boom, The Gateway of Wynwood – the newest office building in the Wynwood area – announces tech start-up OpenStore’s expansion and the growth of its impressive roster of tenants with the addition of two new leases.

Aron Rosenberg, the developer behind The Gateway at Wynwood, has signed a lease with OpenStore for an approximately 26,000-square-foot expansion, bringing the company’s total footprint in the building to over 40,000 square feet. At the same time, The Gateway at Wynwood signed a new lease with Baseline, a vertically integrated platform investment company, for 5,000 square feet of office space. It also signed a lease with Mediterranean-Asian-Fusion Steakhouse concept DALIYAH and MIZU Rooftop Garden for approximately 6,000 square feet of ground-floor restaurant space plus the nearly 3,000-square-foot rooftop area.

The Gateway at Wynwood was represented by Colliers’ Executive Managing Director Stephen Rutchik, Managing Director Tom Farmer and Director Tyler de la Pena in the office lease transactions. CBRE’s Alex Cesar, First Vice President of Retail Advisory and Transaction Services, and Drew Schaul, Senior Vice President of Advisory and Transaction Services, represented The Gateway at Wynwood in the retail lease.

“Leasing activity has ramped up since the building’s opening, and we are excited to welcome these new tenants and see a current tenant expand so fast at The Gateway at Wynwood,” said Shelby Rosenberg, R&B Realty’s Head of Development and Acquisitions, Asset and Property Manager, US Portfolio. “Our building continues to remain a hub for new-to-market tenants, expansions and relocations to Wynwood, the ‘place-to-be’ for companies looking for a live-work-play environment. We are proud of the role we have played in the transformation of this community into one of Miami’s hottest neighborhoods.”

The Gateway at Wynwood, which opened in 2022 as the first tenant took occupancy in January, recently achieved LEED Gold Certification. The building implemented practical and measurable strategies and solutions in areas including sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality. Green buildings allow companies to operate more sustainably and give the people inside them a healthier, more comfortable space to work.

OpenStore, the building’s first tenant to officially move in, is a platform that allows entrepreneurs with Shopify businesses to sell their companies and receive liquidity for what they’ve built. Founded by Keith Rabois of Founders Fund, Jack Abraham of Atomic, and Michael Rubenstein, the former President of AppNexus, 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.

Baseline is focused on developing and operating short and long-term single-family rentals. Baseline’s principals have delivered over 4,000 market-leading vacation rentals and 20,000 single-family homes with an aggregate value of over $7 billion. This will be the Orlando-based company’s first Miami office.

DALIYAH and MIZU Rooftop Garden’s concept was created by DZYNE Hospitality and OPSO Group, which are partnering with Canada’s A5 Hospitality. DZYNE Hospitality, led by Derrick Orosa, aka “DZYNE,” is working with OPSO Group, the company behind some of Miami’s trendiest restaurants, including Midtown’s MAÜ MIAMI and KAVO MIAMI, on the new concept. Founded by Alexandre Besnard and Patrick Hétu, A5 Hospitality has been a leading player in Montreal’s hospitality industry for 15 years. A5 has a varied yet targeted offering, ranging from high-end Japanese dining to large-scale entertainment projects, specializing in the development and operation of restaurants and bars. MIZU Rooftop Garden is set to open first, in time for Art Basel 2022, with the downstairs restaurant, opening by Summer of 2023.

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“Our Rooftop Garden has the most amazing views of the entire Miami Skyline, South Beach, Brickell, Downtown, Midtown, Design District and of course, Wynwood”, said DZYNE of DZYNE Hospitality. “Our high-end Mediterranean Japanese Steakhouse will be situated in between all the action of Wynwood, making it the ideal destination location, where you can have amazing Japanese cuisine with disco, retro and high energy music playing throughout the restaurant or take our private elevator directly to the Rooftop Garden and lay back for some specialty cocktails, bottle service, Japanese Krudos, fresh sushi and cold Japanese dishes, as well as Wagyu and Kobe BBQ.”  

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. The Gateway at Wynwood announced the building’s first office lease with biotech company Veru Inc in the summer of 2021. The eight-year, 12,155-square-foot lease will serve as the company’s global headquarters and triple Veru’s current office space.

 

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The Gateway At Wynwood Office Building Tops Off

New York-based R&B Realty Group has topped off The Gateway at Wynwood, one of the first Class A office buildings of this scale to rise in this robust neighborhood, and Miami’s newest office market.

The general contractor Plaza Construction poured the roof of the 13-story building in November, ahead of schedule. The building will be completed in the second half of 2021.

The Gateway at Wynwood, located on the border of the iconic Wynwood and Midtown neighborhoods, will offer 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, 460,000-square-foot building boasts flexible floorplans, a private rooftop terrace, floor-to-ceiling windows, 24/7 on-site security, and 2:1,000 on-site covered parking.

“This is one of the most important moments in the construction of a commercial project, especially as we are ahead of schedule amidst the pandemic,” said Shelby Rosenberg, Principal of R&B Realty Group. “We are excited to see The Gateway at Wynwood is a step closer to reality. Our project will contribute to the transformation of Wynwood into a 15-minute city, where people can access their office, home, the grocery store, restaurants, and more within a 15 minute walk. We want to thank the city, the area’s stakeholders, our construction and design team, and all our partners for trusting us and helping The Gateway at Wynwood reach this important milestone.”

“Despite the challenges that COVID-19 has posed across our industry, we are proud to have been able to reach this milestone on time and without incident,” said Brad Meltzer, president of Plaza Construction. ” We prioritized the health and safety of all stakeholders with great success, and we look forward to continuing to deliver exemplary construction services to the South Florida market and beyond.”

R&B Realty’s vision for Wynwood has helped fuel a new office submarket in Miami, creating competition for more established office markets such as downtown Miami, Brickell, Aventura and Coral Gables. Already, several big-name companies have made Wynwood their home, including Spotify, Live Nation and WeWork. Other companies looking at the area include Apple Music, Google, Dentsu and other creative marketing agencies.

“We are actively engaged with prospective tenants that are attracted to Wynwood because of its ‘live, work, play’ environment,” said Stephen Rutchik, Colliers International Florida’s Executive Managing Director | Office Services, who handles office leasing for The Gateway at Wynwood. “This area has become a mecca for art, food, and entertainment just north of downtown Miami. While a few companies are hesitant to sign new leases just now, they do know exactly where they want to be … and that is Wynwood. We expect many of the deals in the pipeline for The Gateway at Wynwood will come to fruition as we get closer to completing the building later next year.”

The Gateway at Wynwood is located minutes away from downtown Miami, Aventura and Miami Beach as well as Brightline’s Miami Central, Miami International Airport and PortMiami – the cruise capital of the world. Strategically located near Interstate 95, The Gateway at Wynwood can be easily accessed from Fort Lauderdale and West Palm Beach to the north. The Gateway at Wynwood is also bordered by the Wynwood Arts District, Midtown Miami, Edgewater and the Miami Design District, which are among South Florida’s fastest-growing residential and commercial destinations.

“There are many unique characteristics of the building that will offer a great flair to the neighborhood,” added Taras Diakiwski, Managing Principal of Modern Building Group, the Project’s Construction Manager and Owner’s Representative. “The entire team looks forward to continuing to push the schedule to an on time or early completion while building safely and ensuring the highest level of quality.”

While the area has seen significant change over the past five years, the next five years will bring even greater change as new construction is underway that will aid in Wynwood’s evolution. In the next few years, the total supply of buildings in the Wynwood area is projected to increase by 35% to around 5.3 million square feet, based on projects under construction and in the planning stages.

With the continued growth of the multifamily market, there will be an increased demand for office space. The full-time population in Wynwood will increase by 1,206 persons based on delivery of 464 units under a market average of 2.6 persons per household. At the same time, the population in the nearby greater downtown Miami area has grown significantly in recent years. Greater Downtown’s population was 92,235 people in 2018, and the Downtown Development Authority estimates the population has increased by nearly 3,700 people since 2016, about 4% growth in two years. This equates to over 1,500 people moving to Downtown a year. That’s important because people, especially decision-makers, like their offices to be close to their homes. Wynwood is the perfect office submarket for them to move their offices to. There is a direct correlation between the area’s population’s growth and the rise of Wynwood as an office submarket.

Colliers International’s Stephen Rutchik and Tom Farmer are handling office leasing for the project, and CBRE’s Alex Cesar and Drew Schaul are handling retail leasing.

 

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