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
Oceana Bal Harbour at 10201 Collins Avenue Bal Harbour (Condo.com, compass)
Oceana Bal Harbour closing tops weekly condo sales in Miami-Dade
Oceana Bal Harbour closing tops weekly condo sales in Miami-Dade
A photo illustration of Ocean House South Beach, 125 Ocean Drive (Condo.com, iStock)
Ocean House South Beach closing tops weekly condo sales in Miami-Dade
Ocean House South Beach closing tops weekly condo sales in Miami-Dade
Ram Realty, Pinnacle pay $15M for multifamily dev site near Aventura
Ram Realty, Pinnacle pay $15M for multifamily dev site near Aventura
Ram Realty, Pinnacle pay $15M for multifamily dev site near Aventura
(Compass Real Estate, Zilbert, LoopNet, iStock)
Monad Terrace closing tops weekly condo sales in Miami-Dade
Monad Terrace closing tops weekly condo sales in Miami-Dade
From left: Greg Friedman (buyer), managing principal and CEO, Peachtree Hotel Group, and David Leatherwood (seller), CEO and managing member, Norwich Partners (Peachtree Hotel Group, Norwich Partners, Booking.com, iStock)
Peachtree buys AC Hotel by Marriott in Aventura for $50M
Peachtree buys AC Hotel by Marriott in Aventura for $50M
Palazzo Del Mare, 7192 Fisher Island Drive
Here are Miami-Dade’s top condo sales in December
Here are Miami-Dade’s top condo sales in December
$10M W South Beach PH closing tops weekly condo sales in Miami-Dade
$10M W South Beach PH closing tops weekly condo sales in Miami-Dade
$10M W South Beach PH closing tops weekly condo sales in Miami-Dade
David L. and Dara Clarke with the home (The Carroll Group, LinkedIn via Clarke)
Aventura residents who tried to block Privé condo sell waterfront home for record $9M
Aventura residents who tried to block Privé condo sell waterfront home for record $9M
arrow_forward_ios

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

Loading...