Büro coworking firm to open location in South Miami

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
Make-A-Wish South Florida CEO Norman Wedderburn and 350 Northwest Sixth Street (Getty, Google Maps)
Make-A-Wish pays $8M for Overtown dev site
Make-A-Wish pays $8M for Overtown dev site
Ben Bernstein and Ryan Shear with a rendering of the project at 2407 Northwest 2nd Avenue, Miami (RedSky, PMG, Google Maps)
PMG adds to assemblage of planned Society Wynwood project
PMG adds to assemblage of planned Society Wynwood project
Michael Stern and a rendering of the project (Getty, JDS Development/SHoP Archictects)
Michael Stern pays $24M for future site of 62-story Brickell tower
Michael Stern pays $24M for future site of 62-story Brickell tower
1396 Northwest 36th Street with Integra's Paulo Tavares de Melo and EHDOC's Melanie Ribeiro (Photos via Getty; LinkedIn)
Integra, partner move forward with $58M senior housing project in Allapattah
Integra, partner move forward with $58M senior housing project in Allapattah
Angel Febres, partner, Homecookin’ Hospitality and Metro 1 Managing Director Andres Nava
Wynwood nightclub building hits the market
Wynwood nightclub building hits the market
From left: Benjamin Bernstein, Pan Shiyi, and Zhang Xin (Credit: Google Maps, Dickson Lee/South China Morning Post via Getty Images)
Lender closes on RedSky and JZ’s Wynwood assemblage
Lender closes on RedSky and JZ’s Wynwood assemblage
Kelly Beam, Ricky Trinidad , and 3265 Bird Avenue (Credit: Google Maps)
Miami developer Metronomic files for bankruptcy
Miami developer Metronomic files for bankruptcy
John Bardis, Carlos Lopez-Cantera, and the office (Credit: Google Maps)
Medical co-working space operator buys Miami medical campus
Medical co-working space operator buys Miami medical campus
arrow_forward_ios

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

Loading...