Industrious signs deal for 30K sf next to Aventura Mall

First lease will be at 1111 Brickell

Miami /
Oct.October 01, 2019 10:30 AM
Rendering of Esplanade at Aventura and Industrious CEO Jamie Hodari (Credit: Seritage and Industrious)

Rendering of Esplanade at Aventura and Industrious CEO Jamie Hodari (Credit: Seritage and Industrious)

Industrious, a co-working provider, signed a deal for its second location in South Florida.

The firm will take nearly 30,000 square feet at Esplanade at Aventura, a mixed-use project under construction next to Aventura Mall. Seritage Growth Properties is developing the retail, restaurant and entertainment project.

The lease is one of five between Industrious and Seritage, including another in La Jolla, California, according to a press release. At Esplanade at Aventura, the co-working space provider will have shared workspaces, private offices, and a cafe. It’s expected to open in the second quarter of next year.

Esplanade at Aventura, designed by SB Architects, the Rockwell Group and Wet Design, will have tenants that include The Loyal by Michelin-starred chef John Fraser; Jarana, by Peruvian chef Gaston Acurio; Joey Restaurant; and Pinstripes, an entertainment concept with bowling and bocce.

The site, at 19505 Biscayne Boulevard, was previously home to a Sears store. In 2017, Seritage purchased 235 Sears and Kmart stores from Sears Holdings Corp. Under terms of the sale, Seritage recaptured the property, which allowed the real estate investment trust to develop the site. Seritage also settled a lawsuit in 2016 that it filed against the owners of Aventura Mall to stop the nearby shopping center’s expansion plans.

Industrious has over 85 locations in more than 45 cities in the U.S. Members have included Compass, Heineken, Humana and Zillow.

In March, Industrious announced it would take 45,000 square feet at 1111 Brickell, owned by a joint venture between KKR and Parkway Properties. The lease marked the first for Industrious in South Florida.

Co-working competitors in South Florida include Büro, Pipeline, Spaces and WeWork. On Tuesday, WeWork said it was pulling its public offering amid mounting scrutiny.


Related Articles

arrow_forward_ios
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Fuse Group Investment CEO Eyal Peretz and attorney Michael Ehrenstein (Fuse, Ehrenstein Sager, Twitter via GUT Miami)
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
Grant Cardone and 18851 Northeast 29th Avenue in Aventura (Getty, Google Maps)
Grant Cardone buys Aventura office complex for $93M
Grant Cardone buys Aventura office complex for $93M
Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)
Arbor Management buys multifamily dev site near Aventura for $10M
Arbor Management buys multifamily dev site near Aventura for $10M
MG3 Group executives (from top) Marcelo Saiegh, Hernan Leonoff and Gustavo Bogomolni with Everglades Preparatory Academy and Avant Garde Academy (MG3 Group)
MG3 Group sells Florida charter school portfolio for $242M
MG3 Group sells Florida charter school portfolio for $242M
BridgeInvest's Alex Horn and Rieber Developments' Bernardo Rieber with a rendering of the project 
Rieber lands $15M loan for Aventura mixed-use project
Rieber lands $15M loan for Aventura mixed-use project
117 Northeast First Avenue (Getty, Gut Miami via Twitter)
Lender sues owners of downtown Miami WeWork building over allegedly unpaid loan
Lender sues owners of downtown Miami WeWork building over allegedly unpaid loan
20200 West Dixie Highway, Miami with Harry Dornbusch and Dr. Joshua Lampert (Google Maps)
Aventura office condo owners allege construction defects at Beacon Tower
Aventura office condo owners allege construction defects at Beacon Tower
arrow_forward_ios

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

Loading...