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Securities Exchange Company Takes 38,000 Square Feet In Wynwood

545 wyn_photo courtesy of artista internacional 1010 1170x435

A freshly constructed Class A office complex in Wynwood will be occupied by a securities exchange company headquartered in Miami.

A recent office report from the brokerage Avison Young states that MIAX, commonly known as Miami International Securities Exchange, has closed on a 38,409-square-foot lease at 545 N.W. 26th St. at 545wyn.

MIAX is a global exchange for equities, equity options, and commodities.

An affiliate of Miami International Holdings, M7 Holdings, recently acquired the cryptocurrency derivatives platform LedgerX from a bankrupt FTX, founded by now convicted felon Sam Bankman-Fried, for $50 million.

Miami International Holdings also announced on October 17 that it plans to introduce MIAX Sapphire, a fourth options exchange platform headquartered in Miami. Miami International Holdings claimed in a release that MIAX Sapphire is anticipated to launch in the second quarter of 2024, “followed by the opening of a physical trading floor in Miami, Florida in the second half of 2024,” pending permission by the Federal Securities and Exchange Commission. It was not disclosed where that trade floor was located.


Source:  SFBJ

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Developer Under Contract To Buy 17,000-SF Lot In Wynwood For $7.7 Million

austin burke building wynwood 1170x435

Clara Homes is the latest developer to seek a piece of Wynwood.

The Miami-based company is under contract to buy a 17,000-square-foot lot for $7.7 million, with plans to build a luxury rental building on the site under Florida’s newly enacted Live Local Act, according to a company spokesperson. The sale is expected to close by the end of 2023.

The parcel holds a single-story retail building that’s home to the Austin Burke men’s clothing store at 2601 NW Sixth Avenue, located between the Interstate 95 and the 545 Wyn office building,

The clothing retailer owns the property and will remain there for now, as the deal includes a sale leaseback for one year. Austin Burke purchased the property, completed in 1967, for $340,000 in 1988, according to property records.

Clara Homes plans to build a 152-unit luxury rental building with ground-floor retail designed by Miami architectural firm Kobi Karp. The developer plans to utilize a provision from the Live Local Act, a state housing law enacted earlier this year, that allows added density in return for designating at least 40 percent of apartments as workforce housing.


Source:  Commercial Observer


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Sony Music Coming To Wynwood

545 wyn_photo courtesy of artista internacional 1010 1170x435

Sony Music has signed the largest office lease in Wynwood so far this year, proving creatives want to partake in the renaissance there.

Sony will join other creative companies including TikTok, Spotify and Live Nation.

Sony Music, known formally as Sony Music Entertainment, is going to take 45,000 square feet over two floors in the 10-story office building 545 Wyn at 545 NW 26 St., according to multiple sources familiar with the deal. The company is expected to move in by summer 2024.

Sony intends to consolidate a few offices around South Florida into that one building in Wynwood.

Blanca Commercial Real Estate handles commercial leasing activity at the 545 Wyn office building, and Newmark executive managing directors Lance Benson and Maury Gentile represented Sony Music in its lease deal.


Source:  Miami Herald

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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 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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