The tenant is doubling its office space, adding a second floor to its previous lease at the mixed-use development, bringing the company’s total footprint to about 37,000 square feet.
The loan will allow the developer to ready its 6-acre waterfront site for its slated summer 2023 groundbreaking.
Knotel, a flexible workspace platform founded in 2015 in New York, is slated to occupy the entire 46,072-square-foot property.
Formerly an industrial building, the stand-alone property has been fully converted for office and restaurant use and features a rooftop terrace.
The master plan includes up to 1,200 market-rate residential apartments, green space for residents, an office building, and a revamped shopping center with 300,000 square feet of lifestyle-oriented retail and restaurant space.
Miami’s urban core markets generated $1.2 billion in retail property sales last year, according to a recent CIASF commercial real estate report. CLICK ON THE HEADLINE FOR MORE
Early indications are that this version of Resorts World Miami will be a far cry from the original $3.8 billion project. CLICK ON THE HEADLINE FOR MORE
Resort to create tens of thousands of jobs, draw millions of tourists from around the world, and anchor new three-mile Baywalk along downtown Miami waterfront. CLICK ON THE HEADLINE FOR MORE ON THIS STORY AND TO VIEW A VIDEO OF THE PROJECT
Site work has begun on the 4.6 million square foot project, the area’s largest planned development. CLICK ON THE HEADLINE FOR MORE ON THIS STORY