Newmark Arranges Sale Of Wynwood Jungle, Landmark Retail Destination In Miami’s Wynwood Arts District
Originally completed in 2016, the property was substantially renovated and repositioned in 2023 with more than $1 million in capital improvements.
Originally completed in 2016, the property was substantially renovated and repositioned in 2023 with more than $1 million in capital improvements.
The sale equates to roughly $281 per square foot of land.
The portfolio, purchased for $12,380,000, consists of approximately 77,450 square feet of industrial warehouse and industrial outdoor storage (IOS) facilities situated on more than 10.5 acres.
JLL Senior Managing Director Doug Okun and Executive Managing Directors Zach Winkler and Steven Hurwitz represented the ownership group, Vanderbilt Office Properties, in the new lease transactions and renewals.
River Rhoads, Daniel Cunningham, Evan Richardson, Dillon Majeski and Cory Sanchez of Marcus & Millichap exclusively marketed the property on behalf of the seller.
Easton & Associates Vice President Andrew Easton represented the landlords in all transactions.
An El-Ad affiliate paid $62.3 million for the property.
Most recently, he served as Senior Vice President within CBRE’s Occupier Services Group. Earlier in his career, he spent nearly a decade at JLL, where he helped lease more than three million square feet of Class A office space.
A private company has signed a triple-net lease at a Congress Avenue office property, securing a sizable block of space under an agreement extending for more than a decade.
A major aviation company is preparing to significantly expand its South Florida footprint after acquiring a newly developed 375,000-square-foot industrial campus in Broward County. The transaction gives the company a sprawling new headquarters complex — but the price paid for the property makes the deal particularly noteworthy.
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