Büro coworking firm to open location in South Miami

13,000 sf space set to open in the spring

TRD MIAMI /
Nov.November 02, 2016 11:15 AM

Büro Group will open in South Miami, marking the fifth location for the coworking firm.

Büro inked a 13,000-square-foot lease for the Somi Center on U.S. 1, founder and CEO Michael Feinstein told The Real Deal. The Miami-based coworking space company has locations in Midtown, Sunset Harbour, MiMo and Coconut Grove.

It’s slated to open at Somi Center, 5966 South Dixie Highway, next spring.  Büro has more than 800 members and 350 companies renting space, including Airbnb, Gilt Group, Glamsquad and Lyft, according to a press release.

The 50,000-square-foot building, completed last year, is surrounded by new retail-driven projects and development sites that are on the market, but little new office space. Immediately to the east is 5998 South Dixie Highway, where investment firm Greenstreet Real Estate Partners is building a mixed-use restaurant and office project.

Leonard Boord, managing partner of Somi Center, said Büro will help fill an office space void in South Miami. Somi Center breaks down to 40,000 square feet of office space and 10,000 square feet of ground floor retail space. It’s 64 percent leased with asking rents at $35 per square foot, triple-net, according to the CoStar Group. Slon Capital, which is led by Boord, handles leasing.

“There is definitely a shortage of office space, especially the type of creative and flexible space that appeals to startups and growing companies,” he said.

Shared office space company TamboWorks opened at 5790 Sunset Drive in September 2015. The 3,000-square-foot location is across the street from the Shops at Sunset Place, which will eventually be partially redeveloped.

WeWork, Pipeline Workspaces and MADE at the Citadel also have locations in Miami.

TRD Researcher Eda Kouch contributed to this report. 


Related Articles

arrow_forward_ios
(iStock)

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2
Luis Castillo, Eric Williams, Danny Finkle and 6701 Red Road

Whole Foods-anchored retail in Coral Gables sells for $47M

Whole Foods-anchored retail in Coral Gables sells for $47M
Rendering of Vox Miami

Treo Group scores loan for mixed-use student housing project in South Miami

Treo Group scores loan for mixed-use student housing project in South Miami
Gov’t Meetings Canceled or Moved Online Due To Coronavirus (Credit: iStock)

Miami, Miami Beach and Fort Lauderdale cancel city meetings

Miami, Miami Beach and Fort Lauderdale cancel city meetings
Coronavirus closures hit South Florida restaurants and stores

Coronavirus closures hit South Florida restaurants and stores

Coronavirus closures hit South Florida restaurants and stores
Rendering of Soleste Twenty2 and Robert Suris

Estate Companies completes 338-unit West Miami project

Estate Companies completes 338-unit West Miami project
475 Biltmore Way, Somi Center with Douglas Mandel and Benjamin Silver

California investor searching for higher yield buys medical office building portfolio

California investor searching for higher yield buys medical office building portfolio
La Social’s original location at 7601 Biscayne Boulevard (Credit: Google Maps)

The Weekly Dish: La Social to open in downtown Miami, Salt & Straw is going to Wynwood 25 & more

The Weekly Dish: La Social to open in downtown Miami, Salt & Straw is going to Wynwood 25 & more
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...