Integra Investments, a Miami-based, real estate investment and development firm with successful ventures throughout South Florida – in partnership real estate investment company Constellation Group – announced two signed leases with financial service tenants, Melvin Capital and GMF Capital, at 1674 Meridian, a boutique ‘Class A’ office building in Miami Beach.
1674 Meridian boasts 31,270 square feet of ‘Class A’ office space and 5,505 square feet of retail space with notable tenants, including BurgerFi and Sean Donaldson Hair. Both relocating from New York City, Melvin Capital, an investment management firm, will encompass 6,762 square feet of turnkey office space. GMF Capital, an investment management platform engaged in private equity and alternative investments, will occupy 2,437 square feet.
“Miami Beach continues to demonstrate its position as a prime office submarket, a particular target for companies relocating from the Northeast,” said Integra Investments Principal Victor Ballestas. “With Miami Beach’s constrained supply for ‘Class A’ office product, the building’s strategic renovations offer tenants move-in-ready spaces that are ideal for professional service firms, both in their design and walkable location.”
Melvin Capital and GMF Capital sought an easily accessible and modern boutique building with state-of-the-art technology. 1674 Meridian’s multi-million-dollar renovation include superior features, such as HVAC systems, touchless elevators, and face temperature camera telecoms, among other amenities. Situated in a highly-amenitized location, the five-story building is located one block from Lincoln Road, affording patrons swift connectivity to a plethora of dining, retail, and entertainment.
“As a growing sign of Miami’s allure and the continued trend of out-of-state businesses migration to South Florida, the majority of tenants and prospects originating from New York City are in the financial industry, including cryptocurrency ventures,” said Constellation Group Principal Eduardo Otaola. “Adding a benefit to streamline relocations and move-ins, we are working with the City of Miami Beach to expedite permit processing for new tenants.”
Steven Hurwitz, managing director with JLL, represented the landlord partnership in the transactions.
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