Lease roundup: The Gateway at Wynwood scores three new tenants

In other deals, 830 Brickell is now 60% leased, while DiVosta Towers approaches full occupancy

Miami /
Jun.June 21, 2022 09:45 AM
R & B Realty’s Shelby Rosenberg and The Gateway at Wynwood (R & B Realty Group, iStock)

R & B Realty’s Shelby Rosenberg and The Gateway at Wynwood (R & B Realty Group, iStock)

UPDATED, June 22, 12:00 p.m.: Ripple, Victory Polymers I The Gateway at Wynwood I Miami

R&B Realty Group scored three new tenants at its Gateway at Wynwood office building.

Victory Polymers, a Houston-based provider of Spray Polyurethane Foam insulation products, took 4,000 square feet at the 13-story building at 2916 North Miami Avenue, R&B said in a news release. San Francisco-based Ripple, a tech firm that develops payment protocols and currency exchanges, leased 6,500 square feet. The offices will be the first in South Florida for both companies.

Newly launched renewable energy company Spearmint Energy is also moving into the building, taking roughly 3,500 square feet for its first office and headquarters. Andrew Waranch founded Spearmint last month in partnership with Roscommon Analytics CEO Kevin Kelley.

Colliers’ Stephen Rutchik and Tom Farmer represented R&B in the deals.

R&B, led by Shelby Rosenberg, completed the Gateway last year. The building has 195,000 square feet of offices and almost 26,000 square feet of street-level retail.

Once a gritty warehouse district, Wynwood has been redeveloped for a mix of uses, with its new office buildings a magnet for the tech firms expanding or relocating to South Florida.

Peter Thiel and Keith Rabois’ Founders Fund, along with Jack Abraham’s Atomic and an e-commerce startup backed by both venture funds called OpenStore, were among the first to home in on the neighborhood.

In January, OpenStore moved to the Gateway from its initial office a few blocks away at the Wynwood Annex. The firm doubled its footprint at the Gateway to over 40,000 square feet in May.

Elsewhere at the property, single-family rentals investor Baseline leased 5,000 square feet in March.

A-CAP I 830 Brickell I Miami

New York-based insurance and financial services firm A-CAP will open its first Miami office at OKO Group and Cain International’s 55-story 830 Brickell tower, which is under construction.

A-CAP leased the entire 35th floor, spanning 20,000 square feet according to the developers.

Led by CEO Kenneth King, A-CAP has more than $6 billion in assets under management. It will open in Miami next year.

Brian Gale and Ryan Holtzman of Cushman & Wakefield represented OKO and Cain. Jennifer Goldstein of Douglas Elliman represented A-CAP.

The deal means 830 Brickell, slated for completion this year, is now 60 percent leased, the developers said. The Adrian Smith + Gordon Gill-designed building has been a top target for financial and technology firms hailing from out of state. Chicago-based private equity firm Thoma Bravo and Microsoft have signed leases at the tower.

In January, Canadian asset manager CI Financial doubled the space it initially leased there for its new U.S. headquarters to roughly 40,000 square feet across two full floors.

Also this year, New York-based Marsh & McLennan Companies’ insurance arm, Marsh, leased 25,000 square feet, and Irish-based commercial aircraft owner and lessor AerCap leased the entire 50th floor for its U.S. headquarters.

BAS Holdings Investments I 545wyn I Miami

Real estate private equity firm BAS Holdings Investments is moving its headquarters within Wynwood.

BAS Holdings, founded by Brian Sidman, will open its new office early next year across 5,372 square feet at the 545wyn building at 545 Northwest 26th Street, according to a BAS news release. The company is moving from its present space at 2121 Northwest Second Avenue, a few blocks away.

Alfredo Riascos of Gridline Properties represented BAS.

Chicago-based Sterling Bay, in partnership with Miami-based Place Projects, completed the 10-story, 325,000-square-foot 545wyn in 2020.

BAS Holdings focuses on what it calls recession-resilient investments, such as workforce housing, solar finance and investments, garages and land purchases, according to the release. Its solar financing arm, Sol-REIT, and its BAS Mining and Redwood National Properties subsidiaries will have offices in the new space.

In other 545wyn leases, global consulting firm Slalom signed on for 8,000 square feet last September for its first South Florida office.

Trinity Financial, Aurelius Capital and More I DiVosta Towers I Palm Beach Gardens

Gatsby Florida’s DiVosta Towers, a pair of office buildings in Palm Beach Gardens, secured 13 leases combining for more than 100,000 square feet.

The deals, all of which are for terms of at least 10 years, are either new leases or expansions at the 11-story property at 3825-3835 PGA Boulevard, according to a news release from TCRE, whose Jon Blunk and Constance Thomas represent Gatsby Florida.

The new deals include two recent headquarter relocations. Hedge fund Aurelius Capital moved its headquarters to the property’s south tower from New York, while Trinity Financial moved its headquarters to the north tower from Newport Beach, California, according to the release.

Insurance broker NFP, which moved its headquarters to DiVosta from New York last year, expanded its footprint to span both the penthouse and the entire 10th floor in the north tower.

The other tenants that signed deals are St. Louis-based wealth management and investment banking firm Stifel, New York-based asset manager MidOcean Partners, Virginia-based Seekr Technologies, New Jersey-based Eagle Pharmaceutical, New York-based financial advisor Rockefeller Capital Management, Boston-based risk management consultant Robert M. Currey & Associates, Atlanta-based Homrich Berg Wealth Management, Gardens Wealth Management and Southern Self Storage, according to the release.

Also, BankUnited moved its office to DiVosta from West Palm Beach.

The deals bring the north tower to 85 percent occupancy and the south tower to 99 percent occupancy, the release says.

Broker Tyler Wyant represented Aurelius Capital, Anthony Librizzi of Cushman & Wakefield represented Trinity Financial, and Will Portfolio of CBRE for NFP.

Kevin Landers of Cushman represented Stifel, MidOcean, Rockefeller Capital and Homrich Berg. The other tenant brokers were: Walter Robinson of Walter Robinson Commercial Real Estate for Seekr, Christian Connelly of Compass for Eagle Pharmaceutical, Derek Baker of Colliers for Southern Self Storage, Chris Smith of CBRE for Robert M. Currey, David Browne for Gardens Wealth and Mary Harris of SRS Real Estate for BankUnited.

Gatsby Florida, based in Miami and New York City, bought DiVosta Towers for $80 million in 2020. The company is led by principals Nader Shalom and Babak Ebrahimzadeh.

DiVosta, which totals 220,000 square feet, was designed with inspiration from the Louvre Museum in Paris, the release says. The buildings are crowned with a pyramid-shaped framework, and offices have 10- to 12-foot ceilings and floor-to-ceiling impact windows.

The complex has car-charging stations, a ground-floor patio that can be converted to meeting and event space and public art. The south tower was completed in 2019 and the north tower in 2020.

The Local Flea I West Miami-Dade County

Tech-based consignment retailer Remoov opened its first Miami-Dade County showroom.

The company leased 8,000 square feet for its “The Local Flea” showroom at 7457 Northwest 55th Street, according to a news release.

Galician Enterprises, led by Ricardo Sayegh Allup and Nelson Sayegh, owns the one-story building, records show.

Remoov, founded in San Francisco by Luis Perez, picks up pre-owned goods such as furniture or decor from homes and offices and sells it at a discount from retail prices, according to the release. Items at the showroom vary from well-known brands to rare finds.

The new store is billed as beneficial to the real estate industry, as it offers items designers, brokers and residential and commercial property managers can use to stage their spaces.





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