Lease roundup: Cruise line moving HQ to Doral, tech firm inks Wynwood lease

Windstar Cruises I Doral Concourse

Windstar Cruises will move its headquarters to Doral from Seattle, as South Florida remains a magnet for out-of-state companies.

The cruise ship line inked a long-term, 9,100-square-foot lease at Doral Concourse, according to a news release from the landlord’s broker. Gordon Messinger of CBRE represented the building owner, Aventura-based MG3 Group, in the deal. Carlyle Coffin and Jim McGrath of Newmark represented Windstar.

Windstar, led by Chris Prelog, will relocate up to 40 employees next summer.

The six-story, 240,950-square-foot Doral Concourse at 8400 Northwest 36th Street was constructed in 2000, property records show.

MG3, through its real estate investment trust, bought Doral Concourse for $96 million from a fund managed by DRA Advisors in July.

The building is near CityPlace Doral, the massive mixed-use project with residential, retail and restaurants.

New-to-market firms have been both expanding and altogether relocating to South Florida, prompting positive absorption rates for the regional office market. Although vacancy rates averaged at over 10 percent across the region in the third quarter, landlords are raising rents in a bet on the flurry of leases by out-of-state companies.

Ramp Financial I Wynwood Annex

Technology company Ramp Financial inked a 8,205-square-foot office lease in the Wynwood Arts District.

Ramp, which develops virtual and physical cards for companies and offers other corporate financial solutions, will occupy space on the fifth floor of Wynwood Annex at 215 Northwest 24th Street, according to a news release from the landlords’ broker.

Tony Jones of Cushman & Wakefield represented Ramp in the deal. Tony Arellano and David Lerner of Dwntwn Realty Advisors represented the Wynwood Annex developers and landlords, Related Group and East End Capital.

The duo developed the building with 60,000 square feet of rentable space in part thanks to an $11.6 million construction loan they scored in 2018.

Wynwood Annex now is fully leased following this deal and also psychedelic company Field Trip’s leasing of 7,474 square feet. Some of the other tenants at the eight-story building are entertainment company Live Nation, Silicon Valley’s Founders Fund and Jack Abraham’s venture capital firm Atomic.

Weiss Serota, Gray Robinson and Holland & Knight I One Boca Place

(CP Group)

Three law firms signed leases and a fourth renewed for a total of 26,000 square feet of office space at One Boca Place.

Weiss Serota, Holland & Knight and Gray Robinson are the new tenants, while Furr & Cohen renewed its lease in the building at 2255 Glades Road in Boca Raton, according to a news release from the landlord, CP Group.

Weiss Serota is expanding its Boca Raton presence, Holland & Knight is entering the Boca market and Gray Robinson is moving from Mizner Park. Laurel Oswald and Jon Blunk of TCRE represented landlord CP Group.

Boca Raton-based CP Group, formerly called Crocker Partners, completed $3 million in property improvements, including adding a conference center and a gym with Peloton bikes, and a locker room with showers, according to the release. CP also added three spec suites part of its worCPlaces flexible workspace program, which allows tenants to immediate move in.

TGI Office Automation I The Atrium at Broken Sound

(Alchemy-ABR Investment Partners)

Office technology provider TGI Office Automation signed a 7,728-square-foot lease at The Atrium at Broken Sound in Boca Raton.

The Brooklyn-based company is building out its first-floor space and is expected to move in next February, according to a news release from the landlords’ broker.

Jeff Kelly and Owen Sagar of CBRE and attorneys Peter Ray and Jonathan Berkowitz of Cohen Norris represented the building owners, New York-based Alchemy-ABR Investment Partners and Miami-based Breakers Capital Partners.

Beth Lawrence of Lehmann Realty represented TGI Office Automation.

Founded in 1969, TGI has offices nationwide and recently purchased Boca Raton-based iPower Technologies, a large network integrator and managed IT service provider. TGI is led by Frank Grasso.

The 93,500-square-foot Atrium at Broken Sound, at 6111 Broken Sound Parkway, was constructed in 1986 across 8 acres, property records show.

Alchemy-ABR and Breakers Capital, both real estate investors and joint venture partners in the property, invested about $1.3 million in improvements, including renovations of the common areas, modernization of elevators, new furniture and a new conference facility, according to the release.

Alchemy-ABR and Breakers bought the building in 2018 for $22.4 million.