The Real Deal Miami

Moishe Mana nabs $20M loan for Mana Wynwood trade hub

Americas-Asia trade center would include more than 10M sf
By Katherine Kallergis | July 27, 2018 02:30PM

Rendering of Moishe Mana’s proposed project in Wynwood

Developer Moishe Mana just financed a handful of properties in Wynwood for a massive trade hub he’s planning next to Mana Wynwood.

Mana’s Malux Realty, Malka Realty and Mizrachi Holdings closed on the $20.13 million mortgage from Centennial Bank for the properties at 2337 Northwest Fifth Avenue, 375 Northwest 23rd Street, 394 Northwest 24th Street and 382 Northwest 24th Street.

The land includes a 54,000-square-foot warehouse, built in 1967; a 3,600-square-foot warehouse; parking lots; and two smaller, roughly 3,500-square-foot buildings.

The financing will be used to build the Mana Wynwood Americas-Asia Trade Center & International Financial Center, according to a spokesperson. The project, which was set to break ground this year, will have more than 10 million square feet and is aimed at facilitating trade between China and Asia, Latin America, North America and the Caribbean.

The Apparel Textile Sourcing Miami hosted its Miami conference at Mana Wynwood in May. The three-day show, which brought more than 2,000 buyers and 150 international manufacturers, will return to Mana next year, according to its website.

The first phase of the trade center calls for 4.68 million square feet of Class A office space, showrooms, retail, hotels and public space spread across 8.5 acres of land in Wynwood. It’s expected to house importers and exporters, logistics companies, and trade and export agencies, and would be located along I-95.

Mana’s special area plan, which was approved by the city of Miami in 2016, covers more than 40 acres in Wynwood. The development calls for 51,000 square feet of civic space, about 3,500 residential units, 8,500 parking spaces, and a 2.5-acre privately owned park dubbed “Mana Commons.”

As part of the deal for the SAP, the Wynwood Business Improvement District and Mana agreed to split the developer’s 25-acre project into two phases. His trade-oriented towers along Northwest Fifth Avenue can only be built after receiving building permits for a large portion of the culture- and education-centric eastern half on Northwest Second Avenue, which includes the Mana Commons.