Lease roundup: CRE lender plans new HQ at Terra’s The Well, flex office provider opening in Boca Raton 

Plus, a biopharmaceutical company is now based in Miami Beach

Dwight Capital Leases at Terra’s The Well, IWG in Boca Raton
David Martin of Terra with a rendering of The Well at 1177 Kane Concourse in Bay Harbor Islands (Terra)

Dwight Capital | Bay Harbor Islands 

A commercial real estate financier will move its headquarters to Terra’s The Well development in Bay Harbor Islands

Dwight Capital leased 23,000 square feet at 1177 Kane Concourse, according to a news release from the landlord and its broker.  

Tere Blanca and Danet Linares are part of the Blanca Commercial Real Estate team that is leasing The Well on behalf of Terra and closed the Dwight Capital deal.  

Dwight Capital, which has a loan servicing portfolio of more than $12 billion, first established a South Florida outpost last year. It leased a 3,600-square-foot office at Milton Tower at 16690 Collins Avenue, according to Traded. This year, Dwight Capital officially moved its headquarters from Manhattan to Miami. It will move the headquarters office to The Well when the project is completed next year. 

Dwight Capital Leases at Terra’s The Well, IWG in Boca Raton
Dwight Capital’s co-CEOs Adam and Josh Sasouness (Dwight Capital)

Adam and Josh Sasouness founded Dwight Capital in 2014. 

Led by David Martin, Coconut Grove-based Terra is developing The Well with 96,000 square feet of offices, the release says. The project also will have 54 luxury condos, 22,000 square feet of amenities, 10,900 square feet of retail, and 6,600 square feet of food and beverage space, according to The Well’s and Terra’s websites.

International Workplace Group | Boca Raton 

Office space provider International Workplace Group will open an outpost in Boca Raton, as part of an expansion in suburban and coastal areas of Florida. 

International Workplace Group leased 13,000 square feet at 6501 Park of Commerce Boulevard, where it will operate through its Regus brand, according to the tenant’s news release. The branch is expected to open “soon,” according to the company’s website. 

Led by Mark Dixon, International Workplace Group expanded to seven other outposts in Florida in a push to bring co-working and private offices, as well as meeting rooms to areas where workers generally have to drive to bigger cities for work. The other new Sunshine State outposts will be at 101 Southhall Lane in Maitland, 29399 US Highway 19 North in Clearwater, 13 Palafox Place in Pensacola, 2300 Marsh Point Road in Neptune Beach, 504 Plant Street in Winter Garden, 1845 Town Center Boulevard in Orange Park and 238 North Massachusetts Avenue in Lakeland, according to the release. All will be Regus spaces, except for the Clearwater outpost, which will operate under the HQ brand. 

Sign Up for the undefined Newsletter

International Workplace Group’s third brand is Spaces. 

The expansion brings the firm’s Florida footprint to 86 outposts. 

Records show the Boca Raton building is owned by Elliot Stone’s Royal Castle Companies

SAB Biotherapeutics | Miami Beach 

A biopharmaceutical company moved its headquarters to Miami Beach

SAB Biotherapeutics leased 1,300 square feet under a 62-month term at 777 West 41st Street, according to the publicly traded firm’s first quarter filing to the Securities and Exchange Commission. SAB was previously based in Sioux Falls, South Dakota. Its research and development campus will remain in South Dakota. 

Records show the Miami Beach building is owned by an entity led by Robert and Cara Balogh, and Orli Teitelbaum.

Freddo | Palm Beach County 

A gelato store will open in west Palm Beach County

Freddo took Smoothie King’s former 910-square-foot space at 20385-20465 State Road 7 in the Mission Bay Plaza in an unincorporated county area, according to the tenant’s deal broker. Freddo is expected to open once the interior buildout is finished. 

Fabio Faerman and Sebastian Faerman of FA Commercial represented the tenant. 

Jericho, New York-based Kimco Realty owns Mission Bay Plaza, according to records.