Brick & Timber Collective plans to purchase its third Wynwood building.
Glenn Gilmore’s Brick & Timber put the Cube Wynwd offices at 222 Northwest 24th Street under contract for over $60 million. The seller is a joint venture of Tricera Capital and Alex Karakhanian’s Lndmrk Development, which will retain a 20 percent stake, two of the sources said.
In March, Brick & Timber paid $49 million for Wynwood Annex at 215 Northwest 24th Street, across the street from Cube Wynwd. The deal marked the San Francisco-based firm’s debut in South Florida. On the heels of that deal, Brick & Timber bought the three-story office and retail building at 2724 and 2734 Northwest First Avenue for $9 million in May.
Cube Wynwd is almost fully leased, one of the sources said.
The eight-story, roughly 100,000-square-foot building was completed in 2019. The developers, Redsky Capital and JZ Capital Partners, sold it to Tricera and Lndmrk for $28 million in the spring of last year.
Source: The Real Deal