Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
In other deals, a firm that harvests organs for human transplantation moves HQ to Miami
Wood & Wick, Spartan Strength & Conditioning and more I Progresso Village | Fort Lauderdale
UPDATED, April 20, 4:01 p.m.: BH3 Management has fully leased out its Fabrick project in the Progresso Village neighborhood of Fort Lauderdale.
BH3’s Fabrick consists of warehouses redeveloped into Class A office and retail space at 801, 807, 815 and 819 Northeast Second Avenue. The project spans about 24,000 square feet of rentable space, according to a BH3 news release.
BH3, led by founders Daniel Lebensohn and Gregory Freedman, also moved its headquarters from Aventura to a 6,262-square-foot space at Fabrick last year.
At Fabrick, Form Hair Studio moved into a 2,204-square-foot space; Sana Skin Studio took 2,130 square feet; The NOW Massage moved into 2,366 square feet; and Nobleman’s Cut & Shave took 1,837 square feet, according to a BH3 news release.
In addition, Wood & Wick Co. leased 2,096 square feet; Spartan Strength & Conditioning took 2,084 square feet; Borrowed Time Tattoo and Elite Rejuvenation leased 1,837 square feet; Thread and Theory took 1,129 square feet; and Miso Japanese Tapas leased 1,839 square feet.
Native Realty represented BH3 in the deals.
To create Fabrick, BH3 gut-renovated the warehouses through a partnership with the Fort Lauderdale Community Redevelopment Agency, which approved $350,000 in incentives to BH3 for the project, according to the release.
Fabrick was designed to have the artistic feel of Progresso Village, as the project has murals and lush landscaping. Renovations included a new roof, as well as remediation of the structures, and electrical and plumbing infrastructure.
Progresso Village has been redeveloped with new apartment projects, as well as adaptive reuse of warehouses into offices and retail. Affiliated Development recently completed The Six13 apartments with 142 workforce housing units with the help of a $19.3 million construction loan scored in 2019.
Progresso Village is directly northwest of Flagler Village, also a once overlooked warehouse district redeveloped with multifamily and adaptive reuse of industrial real estate.
My Salon Suit, Sharkey’s Cuts for Kids, Metro by T-Mobile I Broward County
Beth Azor’s Azor Advisory Services signed three tenants at three of its Broward County shopping plazas.
My Salon Suite franchisee Lion Arc leased 8,674 square feet at 12160 West Sunrise Boulevard at Plantation Crossing; Sharkey’s Cuts for Kids franchisee Big Five Family leased 1,032 square feet at 16634 Saddle Club Road at Bonaventure Town Center Shoppes in Weston; and Metro by T-Mobile dealer Wireless 4 All took 950 square feet at 2601 South University Drive at Shoppes of Arrowhead in Davie, according to an Azor Advisory news release.
Frank Buonanotte of Barret Rand Corporation and Todd Shugarman of Green Light Retail Real Estate represented Lion Arc. Timothy Martin of TMA Real Estate represented Big Five Family, and Shary Thur of Thur Retail represented Wireless 4 All.
Azor, who is the founder of Azor Advisory, and the firm’s Chloe Burton, represented the landlords in the deals. Records show Azor Advisor owns the properties through affiliates.
The leases come on the heels of a slew of other tenant signings at Azor properties.
Phat Boy Sushi & Kitchen opened in 2,913 square feet at the Shoppes of Arrowhead. And DS Dental Care opened in a 1,145 square-foot space, and Evana Nail & Spa will open in 680 square feet, both at Shoppes of Rolling HIlls at 2853-2889 South University Drive in Davie.
Makana Therapeutics I Little River | Miami
Biotechnology firm Makana Therapeutics moved its headquarters to Miami’s Little River neighborhood from Eagan, Minnesota.
Makana, which develops and harvests organs for human transplantation, signed a three-year, 10,000-square-foot lease at 390 Northeast 72nd Terrace, according to media reports. It will keep its facility in Eagan.
Cooper Jones from Foundry Commercial represented Makana in the deal.
Brooklyn-based Abingdon Square Partners owns the building, after paying almost $4 million for it in 2020, property records show.
Abingdon is a real estate investment and development firm founded by Benjamin Atkins, according to the company’s website.
Makana Therapeutics moved its headquarters to be closer to the Miami Transplant Institute and allow for more cooperation between their respective programs in xenotransplantation, or the process of transplanting organs between different species, according to a Makana news release.
Makana, led by CEO Mark Platt, focuses its work on swine to harvest cells, tissues and organs, including kidneys, for human transplantation.
The Little River neighborhood is quickly morphing into an office, retail and dining destination, with tenants moving into retrofitted warehouses. Its reinvention mirrors that of Miami’s Wynwood, which also was a long-overlooked warehouse district redeveloped into an arts, office, retail and restaurant hub.
Miami-based Link Real Estate owns a mixed-use portfolio in Wynwood and is expanding in Little River. In March, it paid $14.9 million for the office-retail buildings at 7101 and 7111 North Miami Avenue.