Marcus & Millichap To Set Up Shop In Wynwood With 12,000-SF Office Lease Deal

As Miami’s office market continues to flourish, Marcus & Millichap has signed a long-term lease at The Gateway at Wynwood.

The firm will occupy 12,029 square feet of space on the 7th floor of the recently opened The Gateway at Wynwood office building, located just at the intersection of the thriving Wynwood and Midtown Miami neighborhoods.

Scheduled to take occupancy in Q3 2022, the space will become Marcus & Millichap’s Miami office. The Gateway at Wynwood, which was developed by New York-based R&B Realty Group, received its Temporary Certificate of Occupancy in December 2021. Marcus & Millichap will be joining OpenStore and Veru as the first three tenants in The Gateway at Wynwood. OpenStore, founded by Keith Rabois and Jack Abraham, was the first to move in.

R&B Realty was represented by Colliers’ Executive Managing Director Stephen Rutchik, Director Tom Farmer and Director Tyler de la Pena. Marcus & Millichap was represented by CRESA’s Zach Talbot and Carlo Brignardello.

“We are excited to welcome Marcus & Millichap to The Gateway at Wynwood family,” said Shelby Rosenberg, R&B Realty’s Head of Development and Acquisitions, Asset and Property Manager, US Portfolio. “We have seen a tremendous amount of interest in The Gateway at Wynwood in the first part of the year, and this lease highlights the increasing demand for quality office space in Wynwood’s rising office market. The Gateway at Wynwood is uniquely positioned with unmatched accessibility to the Midtown and Wynwood neighborhoods, and all of the amenities they have to offer, as well as proximity to the bay and downtown Miami.”

The Gateway at Wynwood offers about 195,000 square feet of leasable Class A office space and nearly 25,900 square feet of prime street-level retail space. Designed by renowned Architect Kobi Karp, the environmentally responsible building features flexible floorplans, a private rooftop terrace, gym, unique bay window system, 24/7 on-site security, vibrant exterior cladding, and 2:1,000 on-site covered parking.

Marcus & Millichap, which has over 80 offices throughout the United States and Canada, specializes in investment brokerage and financing with a track record of property matching each property with the largest pool of qualified buyers. Marcus & Millichap reported that their value of recently closed transactions accounts for $4.7 billion in Florida alone.

“By positioning ourselves within the epicenter of Miami, our agents are able to continue at the forefront of the commercial real estate industry throughout the city,” said Ryan Nee, division manager, Marcus & Millichap. “By taking residency in an iconic, newly constructed building like The Gateway at Wynwood, we are symbolizing that our Miami branch aims to build a strong foundation within the community and continuously provide the highest-level specialized service on behalf of investors in the CRE space for years to come.”

R&B Realty’s vision for Wynwood has helped fuel a new office submarket in Miami, creating competition for more established office markets such as downtown Miami, Brickell, Aventura and Coral Gables.  Already, several big-name companies have made Wynwood their home, including Spotify, Live Nation, Chase and Founders Fund. Other companies looking at the area include Google, Dentsu and other creative marketing agencies.

The Gateway at Wynwood is located minutes away from downtown Miami, Aventura and Miami Beach as well as Brightline’s Miami Central, Miami International Airport and Port Miami – the cruise capital of the world. Strategically located near Interstate 95, The Gateway at Wynwood can be easily accessed from Fort Lauderdale and West Palm Beach to the north. The Gateway at Wynwood is also bordered by the Wynwood Arts District, Midtown Miami, Edgewater and the Miami Design District, which are among South Florida’s fastest-growing residential and commercial destinations.

According to the Q4 Miami-Dade office market report by Colliers, the office market fundamentals continued to show great strength with a decreasing vacancy rate, increasing asking rental rate, and a third consecutive quarter of positive net absorption.

 

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