Gateway at Wynwood scores $76M loan

The project will have have 220K sf of Class A offices and 26K sf of retail

TRD MIAMI /
Jan.January 03, 2020 01:30 PM
Gateway at Wynwood and Rose & Berg Realty Group's Aron Rosenberg

Gateway at Wynwood and Rose & Berg Realty Group’s Aron Rosenberg

UPDATED, Jan. 3, 1:50 p.m.: More large-scale office and retail development is coming soon to Miami’s artsy neighborhood.

New York-based Rose & Berg Realty Group snagged a $76 million loan to build the Class A office and retail complex Gateway at Wynwood from Miami-based 3650 REIT. Berkadia Commercial Mortgage, led by Charles Foschini, brokered the loan.

The Kobi Karp-designed property at 2916 North Miami Avenue will have 220,000 square feet of Class A office space to accommodate single- and multi-tenant uses, according to a release. The development will also feature 25,900 square feet of retail space.

A Rose & Berg affiliate bought the 1.12 acre site for $18 million in two separate transactions in 2016. Gateway at Wynwood is projected to open in the second half of 2021, according to the release.

Colliers International South Florida’s Kingsley-Rutchik team is handling the office leasing for Gateway at Wynwood. CBRE will handle leasing for the retail component of the project.

Rose & Berg Realty Group owns, manages or has under construction more than 1 million square feet of office, retail, industrial and mixed-use developments along the East Coast. The developer focuses on repositioning commercial assets and in-fill redevelopment opportunities, according to the release.

Wynwood is seeing an influx of new office and retail development. Chicago-based developer Sterling Bay is building 545 Wyn, a 10-story mixed-use office building on the west side of Wynwood on Northwest Fifth Avenue between 26th and 27th streets. The building topped off in November.

Nearby, RedSky Capital is building the 65,000-square-foot Cube Wynwd, an office and retail project at 222 Northwest 24th Street.


Related Articles

arrow_forward_ios
Foyer Wynwood and Jonathon Yormak

East End Capital scores approval for co-living project in Wynwood

East End Capital scores approval for co-living project in Wynwood
From left: Erik Rutter, David Weitz, David Levinson and Robert Lapidus, with 95 Northwest 29th Street (Credit: Google Maps)

Luxury office, resi project planned for former Rubell museum in Wynwood

Luxury office, resi project planned for former Rubell museum in Wynwood
Alex Karakhanian and Chaim Cahane with 48 Northwest 25th Street

Alex Karakhanian sells Wynwood property for $17M

Alex Karakhanian sells Wynwood property for $17M
As resi brokers in South Florida report an uptick in sales and rentals largely fueled by homeowners fleeing dense markets like New York, office brokers say they’re starting to see a similar trend play out among tech firms. (iStock)

More tech firms eye Miami as Covid carries on

More tech firms eye Miami as Covid carries on
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
NAI/Merin Hunter Codman Chairman Neil Merin and Golden Bear Plaza

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M
Anabella Smith, Louis Archambault, Scott Goldstein

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida
Jeff Greene and a rendering of 550 North Quadrille Boulevard (Credit: Arquitectonica International via Facebook)

Billionaire Jeff Greene battles with WPB mayor over unfinished office building

Billionaire Jeff Greene battles with WPB mayor over unfinished office building
arrow_forward_ios

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

Loading...