New property projects in Wynwood.
Wynwood the district where today the eyes of the greats of the digital world are set: Apple Music, Google, Dentsu are some of them. These and other big brands have surrounded the neighborhood to establish their offices there, forever changing the face of the sector.
And how can you not want to belong to the most artistic district of the city of Miami where Wynwood Walls is located?
An open-air museum showcasing large-scale works by some of the world’s best-known street artists. Adorned with the picturesque murals that surround its streets.
The boutiques and art galleries that become the ideal accompaniment to a beer at sunset when the heat goes down and walking is the best plan.
The area that was in the 70s a place of old warehouses and factories without much interest is today an innovative neighborhood to live in Miami near Down Town.
With access to major highways to reach in minutes the beaches of Miami Beach, bars and nightlife that makes the city vibrate. Now thanks to the incursion of the real estate world, the construction of homes and offices , the development of the sector will be exponential.
Offices and homes the new face Wynwood
Already big developers are heading to the Wynwood district to develop hundreds of thousands of square feet of office building space.
While new tenants began to arrive.
Spotify, Live Nation, We Work, Apple Music, Google and Dentsu are some of the exclusive brands that were located in the neighborhood.
According to Albert Garcia, president of the Wynwood Business Improvement District, the outlook looks promising who said, “We’ve seen development happen uniformly.
We are very happy with the market reaction to the zoning guidelines,” he said. “You have to remember, before that there were no Class A offices in the neighborhood. Over the next six to 24 months, we will see new office leases moving within the market from Brickell, Doral and Coral Gables.”
Multifamily housing is not far behind in colossal development
Multifamily housing giant Lennar Corp. A strategic ally of PFS REALTY GROUP, it has on the radar the striking Wynwood sector with anchored mixed-use multifamily properties .
Lennar is currently building housing projects throughout South Florida, such as Aquabella, Satori, Isola, Botaniko, among others. All these are characterized by being high quality homes, becoming an excellent option to make safe investments.
Wynwood Miami’s new business center?
Miami is rebuilt in every corner of the city. Wynwood is no exception, since at this time it is reborn as an unmissable business center for the purchase of properties in Miami.
Here we have some of his big projects.
545 Wyn at the head of Sterling Bay, a Chicago developer that has built and leases space for McDonald’s Uber, Glassdoor and Twitter. He officially entered the Wynwood market two years ago, being the first visionary to develop a project of this type in the sector.
545 Wyn has offices that range from $50 to $60 per square foot. Sterling Bay assures that the great push to this unconventional sector is already something common in its projects; “We tend not to go to the traditional high-rise markets downtown. We’ve gone to neighborhoods with a little more life, work, play,” he said.
This project will feature 4700 feet of gym space, including spinning and yoga. 17000 square feet for terrace. Bar and kitchen and on the ground floor, will have 3 food, beverage and entertainment shops with a total of 26000 square feet.
This is a great project for the convenience of property investors in Miami.
Gateway developed by the R&B group began construction on a mixed-use building just outside of Wynwood, at 2916 North Miami Avenue of 460,000 square feet.
This office building space is around 195,000 square feet, plus shops, terraces and a garage.
Wynwood Square , located at 2201 North Miami Avenue, has a $71.2 million loan for a mixed development. A megaproject that will have 60,000 square feet for type A offices.
In addition to 241 apartments and 27,000 square feet of shops, it will be developed by the CIM group.
Cube Wynwd an eight-story Class A office building, in an area of 86,000 square feet. Developed mainly by Redsky Capital in the hands of its equity partner JZ Capital Partners.
Regus was the first tenant occupying 21,000 square feet in the Class A building.
And… Tenants are already arriving
Developers are already in the plan to look for their tenants. In addition to those who can potentially move from downtown Miami and Brickell there are different industries looking for where to locate.
This is the case of Wework that already has 30,000 square feet in the Wynwood Garage building marking the largest lease in the neighborhood.
To Oasis in Wynwood came Take Spotify the music streaming company occupied 20,000 feet of the space of Oasis, but before that toured several projects in the sector.
The interesting thing about Spotify was that when he started his search he had defined Wynwood as the place where he wanted to settle. This highlights the appreciation of the area and the increase in property purchases in Miami that all these developments will bring.
This is the perfect opportunity to buy housing, office and generate profitability. Definitely all these developments will contribute to the growth of the economy of Miami.
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