Lease roundup: Schonfeld, Curaleaf, Quest, Cooper’s Hawk ink deals
Also, a Dutch yacht builder opened at the Bentley Bay condo in South Beach
Schonfeld Strategic Advisors I Dorsey I Wynwood
New York-based hedge fund Schonfeld Strategic Advisors nearly doubled its space at the Dorsey mixed-use building in Miami’s Wynwood neighborhood.
Schonfeld’s office now spans two floors and 37,000 square feet, up from its previous 19,000 square feet, at 286 Northwest 29th Street, according to a news release from the property’s owners. The firm was founded by Steven Schonfeld. Ryan Tolkin is CEO.
Ben Mandell’s Tricera Capital, Alex Karakhanian’s Lndmrk Development and the Pérez family’s Related Group completed the 12-story Dorsey last year, records show. The property consists of more than 300 apartments, 33,000 square feet of retail and 78,000 square feet of office space, which is now fully leased following Schonfeld’s expansion, the release says.
Randy Abend and Paul Mas of JLL represented the tenant. Cameron Tallon and Emily Brais were part of the CBRE team that represented the landlords.
South Florida’s office real estate emerged as a darling market over the past two years, amid an influx of businesses. Yet, it won’t be entirely unscathed from a capital markets downturn caused by rising interest rates, experts say. Wynwood, the focus of much of the financial and tech company leasing, still has experienced some investment sales activity.
In December, Brick & Timber Collective bought Cube Wynwd at 222 Northwest 24th Street from Tricera and Lndmrk for $62 million.
Quest Workspaces I “Darth Vader building” I downtown West Palm Beach
Coworking space provider Quest Workspaces doubled its downtown West Palm Beach space.
Quest, founded in 2010 by Laura Kozelouzek, now occupies 26,000 square feet at 515 North Flagler Drive, up from its previous 12,700-square-foot office, according to a company news release. The coworking provider has leased at the building for nearly a decade.
Vanderbilt Office Properties, based in Chicago, and C-III Capital Partners, based in Irving, Texas, own the two-building office complex. In 2019, they paid $98 million for the property, which is also known as the “Darth Vader building” for its dark windows.
Wajer Yachts I Bentley Bay I Miami Beach
Dutch family-owned yacht builder Wajer Yachts opened at the Bentley Bay condominium in South Beach.
Wajer Yachts leased the entire 1,200-square-foot office showroom on the ground floor at 520 West Avenue. The firm also will take 16 slips at the marina, according to a news release from the landlord’s broker.
Inhouse Commercial represented the landlord in the deal, Scott Robins Companies.
Curaleaf I Palm Beach County
Curaleaf opened a dispensary near Boca Raton.
The medical marijuana provider leased space at 19631 South State Road 7 in unincorporated Palm Beach County, marking its 58th dispensary in Florida and 148th nationwide, according to a Curaleaf news release.
The property owner, an entity led by Severino Rodrigues and Gregory Roth, bought the 2,200-square-foot building last year for $1.4 million, records show.
Kahane & Associates, Acentria Insurance I Sawgrass Technology Park I Sunrise
Bridge Investment Group scored two new tenants at its Sawgrass Technology Park office complex in Sunrise.
Law firm Kahane & Associates took 12,000 square feet at 1619 Northwest 136th Avenue, and Acentria Insurance took 15,000 square feet at 1607 Northwest 136th Avenue, according to a news release from Bridge Investment. Kahane moved its office from 8201 Peters Road in Plantation, and Acentria moved from 2430 West Oakland Park Boulevard in Oakland Park.
Deanna Lobinsky and Chase Kulp of Cushman & Wakefield represented Bridge in the deals.
Bridge Investment, based in Salt Lake City, bought the 11-building, 500,000-plus-square-foot office campus for $74.3 million in 2019.
ABC Supply I Hillsboro Distribution Center I Deerfield Beach
American Builders & Contractors Supply took industrial space at Hillsboro Distribution Center in Deerfield Beach.
The construction materials wholesale distributor, which also goes by the name ABC Supply, took 31,000 square feet at 1471 West Hillsboro Boulevard, according to a news release from the tenant’s broker.
Daniel Forman and Keith Graves of Berger Commercial Realty/Corfac International represented the tenant. Larry Genet and Thomas O’Loughlin of CBRE represented the landlord.
Bridge Investment Group owns the 71,000-square-foot warehouse. It paid $15.2 million for the property last year.
Silver Mirror Facial Bar I The Plaza Coral Gables
Skin care salon Silver Mirror Facial Bar will open its second Miami-Dade County site at The Plaza Coral Gables.
Silver Mirror will open this year in a 1,900-square-foot space with 11 treatment stations at 2955 Ponce de Leon Boulevard, according to a news release from the tenant’s broker. Silver Mirror’s other site is at 712 Southwest First Court in Brickell.
Ana Barcelo of NuList Advisors represented Silver Mirror.
Agave Holdings, a commercial real estate firm with projects in the U.S. and Mexico, developed the roughly 2.6 million-square-foot The Plaza on 7 acres on the southeast corner of Ponce de Leon Boulevard and Sevilla Avenue. The project includes a pair of office towers, a 242-key hotel, 174 apartments and over 160,000 square feet of retail.
Cooper’s Hawk Winery & Restaurants, Lazy Dog Restaurant & Bar I Lotis Wellington
The developers of the 64-acre Lotis mixed-use project in Wellington have fully pre-leased phase I of the retail space.
Cooper’s Hawk Winery & Restaurants took 10,600 square feet, and Lazy Dog Restaurant & Bar took 9,000 square feet at The Square at Lotis, according to a news release from the landlord’s broker. Construction of the entire project is expected to start in March.
Another 10 tenants also took space at The Square: Restaurants Turning Point; Naked Taco;
Frank Pepe Pizzeria; Mooyah Burgers, Fries & Shakes; and Mazza Mediterranean Cuisine; as well as Foxtail Coffee and Raw Juice. Restore Hyper Wellness, StretchLab and Crown Nail Spa also took space at The Square. Altogether, the tenants took a combined 44,000 square feet.
Cooper’s Hawk will open late this year, and the others will start opening next year.
Roxanne Register and Nicole Fontaine of Katz & Associates represented the Lotis development team. David Emihovich, also of Katz, represented Cooper’s Hawk.
Boca Raton-based Lotis Group is developing the mixed-use project on the west side of U.S. 441, north of Forest Hill Boulevard and next to Wellington Regional Hospital. It is planned to consist of 55,000 square feet of retail, nearly 13,000 square feet of offices, 40,000 square feet of medical offices, 191 luxury apartments, a 150-unit senior living facility and a 110-bed assisted living facility that will offer memory care.
John Markey, Adam Freedman and James Gielda founded Lotis Group in 2020.