As tech companies continue to rapidly expand and enter the Miami market, OpenStore has moved into its new office space in Wynwood.
Founded by Keith Rabois of Founders Fund, Jack Abraham of Atomic, and Michael Rubenstein, the former President of AppNexus, OpenStore is a platform that allows entrepreneurs with Shopify businesses to sell their companies and receive liquidity for what they’ve built. The tech company occupies 14,914 square feet at The Gateway of Wynwood, located at the intersection of the iconic Wynwood and Midtown Miami neighborhoods. It is the first tenant to move into the recently completed building.
R&B Realty Group, the developer behind The Gateway at Wynwood, was represented by Colliers’ Executive Managing Director Stephen Rutchik, Managing Director Tom Farmer and Director Tyler de la Pena. OpenStore was represented by JLL’s Adam Bernstein and Jeffrey Gordon.
“We are very excited to welcome OpenStore to The Gateway at Wynwood,” said Shelby Rosenberg, R&B Realty’s Head of Development and Acquisitions, Asset and Property Manager, US Portfolio. “OpenStore is a fantastic fit for our spec suite program, offering the tech company flexibility as it continues to scale up and grow. We are continuing to see strong leasing activity and continued interest from a variety of sectors. We expect to have more exciting news to announce soon.”
OpenStore connects merchants and customers into a single unified shopping experience through access to data, information, and capital. The company announced in July that it raised $30 million in Series A funding, with a valuation of $250 million. OpenStore’s goal is to offer instant liquidity for eCommerce entrepreneurs.
OpenStore’s founders, Keith Rabois and Jack Abraham, helped fuel the rise of Miami’s tech scene when they were among the first high-profile executives to announce their move to Miami. The Miami tech movement, which was sparked by City of Miami Mayor Francis Suarez’s now infamous tweet – “How can I help?” – has transformed the city’s office market. Companies and executives in search of a better quality of life, lower taxes and great weather have descended upon Miami, now dubbed the “Silicon Valley of the South.”
R&B Realty devoted the entire 10th floor of The Gateway at Wynwood to fully built-out and ready for move-in office space, dubbed ‘spec suites.’ Designed by Gensler, the spec suites take the stress out of the office leasing and build-out process, providing companies flexibility in their space, and the ability to move in almost immediately upon completion of the building. OpenStore’s lease occupies the remainder of the spec suites available on the 10th floor. Due to its success, the spec suites program has been expanded to the 9th floor. The move-in ready suites, starting at 2,000 square feet, can be combined to form bigger units as well.
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. This summer, R&B Realty Group announced the building’s first office lease with biotech company Veru Inc. The eight-year, 12,155-square-foot lease will serve as the company’s global headquarters and triple Veru’s current office space.
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