Amazon Expands Wynwood Lease To 76K SF: The South Florida Deal Sheet
Amazon is grabbing a couple of extra thousand square feet in Wynwood ahead of its move-in.
The tech giant is expanding its lease at Wynwood Plaza from 50K SF to nearly 76K SF, breaking its own record for the neighborhood’s largest lease, The Real Deal reported.
L&L Holding Co., Oak Row Equities, Shorenstein Investment Advisers and co-investor Claure Group landed Amazon in January at Wynwood Plaza, which consists of a 12-story office tower, 509 rental apartments, retail space and restaurants across 1M SF at 95 NW 29th St. The developers broke ground on the project in 2023 and expect to complete it this year.
Wynwood Plaza launched leasing at the Wynwood Plaza Residences at the beginning of this month, according to a release.
LEASES
Swire Properties signed nine retailers to a combined 29K SF of leases at Brickell City Centre, according to a release.
Coming to the mixed-use project at 701 S. Miami Ave. in 2025 and 2026 will be Vancouver-based clothing store Aritzia, cosmetics store Dior Beauty, jewelry brand Mejuri, activewear brands Alo Yoga and Vuori, café Joe & The Juice, fashion brands Massimo Dutti and Harmont & Blaine, and eyewear and accessories brand Hapa Kristin.
Swire opened the $1B Brickell City Centre in 2016, which has two condominium towers, two office buildings and the East Miami hotel in addition to the 500K SF retail portion.
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Bridge Industrial signed its first tenant at the Bridge Point Port Everglades, according to a release.
Fort Lauderdale logistics company Rehoboth Terminal signed a long-term lease for nearly 45K SF at the 172K SF industrial property. The space will be used as for logistics and cargo support.
Bridge Point Everglades, completed at 2200 NE Seventh Ave. in Dania Beach in 2024, has 32-foot clear ceiling heights, 34 dock-high doors, two drive-in doors and a 120-foot truck court.
JLL’s Sky Groden, Ken Morris and Jeremy Cain represented Bridge in the deal.
FINANCING
Galaxy Industrial landed $50M in refinancing from Ocean Bank for a 689K SF Miami portfolio, according to a release.
The 20 warehouses built between 1982 and 1995 are located within a 1-mile radius in Medley. The properties are roughly 97% leased and have 20- to 32-foot ceiling clear heights, 167 docks and 670 parking spaces.
Galaxy secured the five-year, fixed-rate mortgage with two five-year extension options and a 12-month interest-only period. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez, Shannon Wilson and Luke Maganas at Berkadia facilitated the transaction.
CONSTRUCTION AND DEVELOPMENT
PPG and BH3 Management are rebranding and converting their 26-story apartment tower in Hallandale Beach into the first standalone residential building with the Mondrian hotel brand.
PPG delivered Slate Hallandale Beach in 2022 at 101 Diplomat Parkway, and the partnership refinanced the building for $225M with JPMorgan Chase and Monroe Capital in March.
Now, in a partnership with Ennismore, the owners will turn the apartment building into the Mondrian Hallandale Beach Residences, with 250 units ranging between 860 SF and 3,239 SF and the same 30K SF of amenities.
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ANF completed its South Pointe apartments in Miami Lakes, according to a release.
The project holds 179 apartment units, 370 parking spaces and 17K SF of retail on the ground floor across three four-story buildings at 8205 Commerce Way, according to its website.
The one- and two-bedroom units average 725 SF to 1,050 SF. Amenities include a wellness center, a dog park, a basketball court and meeting rooms. Monthly rent ranges between $1,270 and $3,801, according to Apartments.com.
SALES
Simon Property Group purchased the vacant former Sears at its Boca Raton mall from Seritage Growth Properties for $23M, according to property records provided by Vizzda.
The 180K SF space at the Town Center at Boca Raton was built in 1980 on the 18-acre site. Sears closed its location in 2018 and it has remained empty since, the South Florida Business Journal reported. Seritage was formed as a REIT to redevelop and sell off shuttered Sears stores.
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Miami-Dade County purchased 7 acres of industrial-zoned land from an affiliate of Neology Life Development Group for $54M, according to property records provided by Vizzda.
Neology purchased the site at 2301 NW 33rd Ave. in 2022 for $32M and had plans for more than 1,000 apartments by the Miami International Airport, the South Florida Business Journal reported.
The land is planned for air travel, air cargo or operational purposes as part of the airport’s $9B modernization and capital improvement program.
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An entity of Griffis Residential purchased an apartment building in West Palm Beach for $87M, according to property records provided by Vizzda.
The seller, Woodfield Development, developed the 223-unit apartment building in 2023 after landing a $47M construction loan from Northwestern Mutual Life Insurance Company, The Real Deal reported at the time.
Griffis financed the purchase of the property at 345 Banyan Blvd. with a Fannie Mae loan of $57.7M, which matures in July 2035. The 15-story building, renamed Griffis West Palm, offers studios to three-bedroom units that range between 535 to 1,579 SF and are renting between $2,495 to $7,295 a month, according to Apartments.com.
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An entity of Midtown Miami developer Jon Samuel purchased an industrial property in Palm Springs for $24M, according to property records provided by Vizzda.
The seller, an entity of Realty Income Corp., purchased 1200 S. Congress Ave. in 2020 for $22M.
The nearly 15-acre site holds industrial and retail space built in 2016. The 50K SF two-story industrial building features 18 grade-level doors and 26-foot clear heights. The two retail buildings total 43K SF. Samuel took out a $17M loan from Seacoast National Bank to finance the deal.
