The Real Deal Miami

Crudos Fusion Sushi restaurant coming to 250 Wynwood

Thor Equities leased the 1,800 sf space at 250 Northwest 24th Street to the restaurant

July 07, 2016 12:00PM
By Ina Cordle

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250 wynwood

Rendering of 250 Wynwood

A new restaurant, Crudos Fusion Sushi, will open at 250 Wynwood, as the neighborhood continues to attract more eateries, The Real Deal has learned.

New York-based Thor Equities leased the 1,800-square-foot space to the restaurant, adjacent to the upcoming Federal Donuts on the ground floor of the condo building at 250 Northwest 24th Street, a Thor spokesman told TRD.

When it opens in late fall, Crudos Fusion Sushi will mark the first location in the United States for the sushi restaurant, owned by South Americans, the spokesman said. The asking rent was $65 per square foot.

Crudos Fusion Sushi’s space will feature 16-foot ceilings with floor-to-ceiling windows and wall-to-wall transparent glazing.

In September 2015, Thor Equities began leasing two retail spaces with an option to buy at 250 Wynwood, a new six-story condo project developed by Fortis Development Group. Last month, Thor leased the first space, with 2,200 square feet, to Federal Donuts. The shop will serve gourmet donuts and Korean-style fried chicken by Philadelphia chef Michael Solomonov.

Known for its artsy vibe, Wynwood is bursting with new retail shops and restaurants that are attracting locals and tourists at all hours. Warby Parker, Marine LayerIllesteva and Shinola have recently opened stores in the district, while new dining spots include Wynwood Diner, KYU and Salty Donut. Other nearby businesses include Ducati, Panther Coffee, Coyo Taco, Wynwood Kitchen & Bar, R House, Gravity Brewery and Boxelder Craft Beer Market.

Joe Sitt’s Thor Equities has been targeting Wynwood for property purchases in recent years. Last year, the company paid $29 million for nearly an entire block at 2801 Northwest Third Avenue. Thor’s Wynwood portfolio also includes 2800 Northwest Second Avenue, a 100,000-square-foot site with 45,000 square feet of retail space; and 2722 Northwest Second Avenue, a single-story retail property with 5,000 square feet on a 10,000-square-foot lot.

According to a Commercial Industrial Association of South Florida market report released in April, Wynwood ranked among the area’s hottest retail markets in 2015, with $165 million in retail property sales volume and a vacancy rate of 6 percent.

Last month, the pedestrian-friendly neighborhood was named “one of the hottest urban retail markets” by Cushman & Wakefield in its The Cool Streets of North America report. The neighborhood’s industrial history, street art and growing millennial population contribute to Wynwood’s success, which has been fueled by retail growth, the report said.