The Real Deal Miami

Thor Equities leases 10K sf Wynwood property to La Embajada

Thor paid $1.9M for building in January 2014

May 08, 2015 03:00PM

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2722 Northwest Second Avenue in Wynwood and Joseph Sitt of Thor Equities

2722 Northwest Second Avenue in Wynwood and Joseph Sitt of Thor Equities

New York-based Thor Equities leased one of its Wynwood properties to a restaurant, coffee bar and venue.

La Embajada will lease 5,000-square-foot building with 150 feet of frontage on Northwest 28th Street and Northwest Second Avenue. Property records show the company bought the 10,450-square-foot site in January 2014 for $1.9 million.

“With the Design District to the north and downtown Miami to the south, 2722 Northwest Second Avenue is strategically situated in the center of the Wynwood Arts District neighborhood, with the nearby Art Basel Miami Beach show as an annual focal point,” said Melissa Gliatta, executive vice president of Thor Equities, in a statement.

Nearby businesses include Warby Parker, Wynwood Kitchen + Bar, jugofresh and Boxelder Craft Beer Market.

Thor has significantly increased its purchasing activity in Wynwood and the Design District. In April, the company told TRD it signed a contract to pay $29 million for nearly a square block in Wynwood.

Weeks earlier, Thor paid $16 million for two properties in Miami’s Design District, adding to its portfolio in the area, which includes 2-54 Northeast 40th Street, 43 Northeast 39th Street, 53 Northeast 39th Street, 75-81 Northeast 39th Street, 120 Northeast 39th Street and 3925 North Miami Avenue. — Katherine Kallergis