UPDATED May 7, 6 p.m.: LeBron James is bringing his well-known talent to Wynwood. But this doesn’t have to do with this supreme skills on the basketball court.
Unknwn, a men’s fashion retailer co-founded by James, just signed a lease for a flagship store in Miami’s Wynwood neighborhood, The Real Deal has learned.
The 9,500-square-foot property at 261 Northwest 26th Street will feature a 2,300-square-foot store and an outdoor garden for special events, according to Jason Weisman of JAW Commercial, who represented both sides of the deal. He declined to provide lease terms.
David Edelstein’s Tricap is the owner of the 13,800-square-foot building. Edelstein and his partner, attorney William Weisman, bought that property and the adjacent site at 260 Northwest 27th Street for $13.13 million in 2016.
Tricap planned to renovate the property — which was the former site of Topwin Shoes — and bring in a new mix of retailers. UNKNWN carries a collection of sneakers, streetwear and designer apparel, according to its website. The brand, founded by James and his childhood friends Frankie Walker and Jaron Kanfer, also has a store at Aventura Mall.
Edelstein’s Tricap, also known as TriCapital Partners, has been active in Wynwood, the Miami Design District and Miami Beach. In 2016, Edelstein and Weisman paid $10 million for the 2,700-square-foot building at 140 Northeast 40th Street. Edelstein also bought a Wynwood retail site next to Miami’s Midtown for $10.2 million in May 2015 and flipped it six months later for $13 million. Two months later, he bought three Design District properties, at 114 Northeast 40th Street, 130 Northeast 40th Street and 135 Northeast 39th Street, for $65 million.
Edelstein has also purchased a slew of properties on Lincoln Road in Miami Beach, including 918 and 920 Lincoln Road, which he acquired in 2015 for $18.5 million, and 800 Lincoln Road, which he paid $88.2 million for in 2014 and is redeveloping. He is also planning to develop a leased site at 500 Lincoln Road, next to the Miami Beach Community Church.