Leasing has launched at The Doris, a nearly finished 27,000-square-foot development that’s Wynwood’s newest office building.
Lombardi Properties and Fox Farm Capital, both based in Miami, are developing the eight-story project at 153 Northwest 25th Street in Miami, according to the broker’s news release. Newmark’s Jeremy Hakala and Matt Himmelsbach are leasing the building.
The Doris will consist of 14 spec suites averaging just under 2,000 square feet, with each space including two private offices, a kitchenette and a private terrace, the release says. The building will include 1,800 square feet of ground-floor retail.
Completion is expected in June, according to the release.
Interest has been strong since leasing started two months ago, Himmelsbach said. Asking rates are at $60 to $70 per square foot, triple net.
Lombardi, a commercial and residential investment and development firm, is led by David Lombardi, one of the pioneering Wynwood investors who has banked on the neighborhood since at least 2000. Lombardi was part of a group of real estate players that started heavily investing in Wynwood when it was a budding arts district more than a decade ago.
Fox Farm owns and manages retail, industrial and office properties across Florida. Jared Brunnabend is the principal.
The Doris’ boutique size aligns with the current trend in Miami-Dade County office development, defined by small- and mid-sized projects offering bespoke spaces. Developers are seizing on the demand, especially by wealthy executives buying homes here and seeking jewel boxes for their new company offices.
Prior to The Doris, the most recently completed office project in Wynwood was Wynwood Plaza, a mixed-use complex that includes a 12-story, 266,000-square-foot office building. It’s about 60 percent leased.
Elsewhere in Miami-Dade, the pipeline includes Terra’s 113,000-square-foot The Well in Bay Harbor Islands, and Taubco and Landau’s 75,000-square-foot One Kane nearby.
Sumaida + Khurana and Bizzi + Bilgilli are developing The Fifth Miami Beach with 60,000 square feet of offices in South Beach, while Constellation Group and The Boschetti Group recently finished the 84,000-square-foot 4225 Ponce in Coral Gables.