Founders Fund, Atomic and OpenStore ink long-term leases in Wynwood

SoftBank is reportedly looking for 100K sf in Miami

Miami /
Mar.March 30, 2021 11:30 AM
Keith Rabois and Peter Thiel with Wynwood Annex (Getty, Dwntwn Realty Advisors)

Keith Rabois and Peter Thiel with Wynwood Annex (Getty, Dwntwn Realty Advisors)

Is Big Tech here to stay?

Venture capital firms Founders Fund and Atomic and e-commerce company OpenStore signed leases for more than 22,000 square feet in Wynwood, while SoftBank and Microsoft are reportedly looking to expand their presence in Miami.

Silicon Valley’s Founders Fund, which took a temporary space in Brickell earlier this year, is leasing the eighth floor at Wynwood Annex, a Class A office building in the trendy Miami neighborhood, according to Tony Arellano of Dwntwn Realty Advisors, who represented the landlord. Atomic, Jack Abraham’s venture capital firm that has funded companies including Bungalow and Hims & Hers, signed a lease for the entire seventh floor and part of the fourth floor, and OpenStore is taking the larger portion of the fourth floor, Arellano said.

The announcements were made as Miami Mayor Francis continues his campaign to bring more tech firms to the Magic City. In a release, Suarez said the city is on its way “to becoming the capitol of capital.” The Wall Street Journal first reported the news.

Dwntwn Realty Advisors’ David Lerner also represented the landlord in the leases, and JLL’s Matthew Goodman, Adam Bernstein and Jeff Gordon represented the tenants.

Related Group and East End Capital completed Wynwood Annex, a 65,000-square-foot office building at 215 Northwest 24th Street, about three years ago.

In recent years, big name tenants such as Spotify and Live Nation have signed leases in Wynwood. Apple Music, Google, Dentsu and other creative marketing agencies have also been looking for space in the market.

Business Insider reported earlier this year that Seattle-based Microsoft is in talks to lease 30,000 square feet at 830 Brickell, a 57-story office tower being developed by Vlad Doronin and his joint venture partner Cain International. SoftBank Group Corp. is looking for up to 100,000 square feet of office space, the Journal reported.

Founders Fund partners Peter Thiel and Keith Rabois have purchased waterfront homes in Miami Beach during the pandemic. Rabois has been especially vocal about the tech exodus from Silicon Valley to Miami.






    Related Articles

    arrow_forward_ios
    Lease roundup: Slalom opens first South Florida office in Wynwood, 10 tenants sign at 800 Brickell
    Lease roundup: Slalom opens first South Florida office in Wynwood, 10 tenants sign at 800 Brickell
    Lease roundup: Slalom opens first South Florida office in Wynwood, 10 tenants sign at 800 Brickell
    From left to right: David Edelstein, Nick Perez, Alex Karakhanian, Scott Sherman and Ben Mandell with the location (Google Maps, Related, Getty)
    David Edelstein, Related and partners plan resi project on former RedSky property in Wynwood
    David Edelstein, Related and partners plan resi project on former RedSky property in Wynwood
    (Facebook via Wynwood 25 and Joe's Pizza)
    Lease roundup: New York pizzeria opening at Wynwood 25, logistics provider heading to Davie & more
    Lease roundup: New York pizzeria opening at Wynwood 25, logistics provider heading to Davie & more
    Rendering of the Legacy Hotel & Residences and exam room (Legacy Hotel & Residences)
    Lease roundup: Blue Zones to run Legacy Hotel & Residences health and wellness hub at Miami Worldcenter & more
    Lease roundup: Blue Zones to run Legacy Hotel & Residences health and wellness hub at Miami Worldcenter & more
    Robert Finvarb and Abraham “Abie” Hidary with the site at 2534 North Miami Avenue (Koniver Stern Group)
    Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
    Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
    The Dorsey project by Related Group in Wynwood and 2600 Sawgrass Mills Circle (Google Maps)
    Lease roundup: New York hedge fund takes Miami space for second HQ, Sushi Maki expands to Fort Lauderdale
    Lease roundup: New York hedge fund takes Miami space for second HQ, Sushi Maki expands to Fort Lauderdale
    Developers of Society Wynwood mixed-use project scores $142M construction loan
    Developers of Society Wynwood mixed-use project score $142M construction loan
    Developers of Society Wynwood mixed-use project score $142M construction loan
    Rendering of the Westlake Winn-Dixie and Coconut Grove's CocoWalk (CocoWalk)
    Lease roundup: Winn-Dixie inks 52K sf lease in Westlake & more
    Lease roundup: Winn-Dixie inks 52K sf lease in Westlake & more
    arrow_forward_ios

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

    Loading...