OKO Group Leases Wynwood Plaza Office: The South Florida Deal Sheet
Oak Row Equities and L&L Holding Co. have locked down another office tenant for Wynwood Plaza — and this time it's a fellow developer.
OKO Group, led by billionaire Vladislav Doronin, signed a 25K SF lease at Wynwood Plaza, the South Florida Business Journal reported.
Oak Row and L&L developed the mixed-use project in partnership with Claure Group, which is also leasing space in the building, and Shorenstein Investment Advisers. Notable neighbors for OKO ahead of its move into the 266K SF office building at Northwest 29th Street are Amazon, which just expanded its lease to 76K SF, and law firm Weitz & Luxenberg.
The real estate firm, which co-developed 830 Brickell, will move its offices from the Miami Design District at 4100 NE Second Ave.
LEASES
Legacy Wealth Advisors and NewCo Capital Group are relocating their headquarters to more than 13K SF combined at The Well Bay Harbor Islands, Commercial Observer reported.
Legacy inked a deal for just more than 5K SF, and NewCo Capital Group signed for 8,745 SF in the wellness-focused mixed-use property. The companies are expected to move in by next year.
Terra Group is building the development, which topped off in February, to include nearly 99K SF of offices and 66 condos with more than 22K SF of amenities, according to the developer's website.
The Well Bay Harbor landed Tom Brady’s TEB Capital Management last year with an 8,415 SF lease.
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National law firm Kanner & Pintaluga signed a lease at BH Group and PEBB Enterprises' The Eclipse mixed-use development in Boca Raton, according to a release.
The personal injury and property damage claims firm will occupy 77K SF across part of the first floor and the entire second and fifth floors at the north office tower at 6600 N. Military Trail.
The 29-acre project includes 405K SF of office space, 500 multifamily units, 43K SF of retail, a gym and restaurants. Other office tenants include MN8 Energy and I Heart Mac & Cheese.
CBRE's Joe Freitas and John Criddle handled the leasing for the developers, and Stream Realty represented the tenant.
FINANCING
Fortune International Group and Blue Road secured a $73M construction loan for the Nexo Residences in North Miami Beach, according to a release.
The loan comes after the developers topped off on the building with a combination of financing through condo sales deposits and EB-5 investor funds. A Berkadia team of Scott Wadler, Michael Basinski, Bobby Dockerty, Mitch Sinberg, Brad Williamson and Matt Robbins represented the developers in the transaction.
Nexo Residences features 254 three- and four-bedroom residences starting at $599K at 13899 Biscayne Blvd. It also holds a café, technology center, coworking spaces, a pool deck, a rooftop observatory deck, a children’s playground, a clubroom, an outdoor movie theater, a yoga studio and a private event area.
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Moderno Development refinanced the Rivr Lofts apartment building in Fort Lauderdale for $117M, according to a release.
The 352-unit project at 307 SW Fifth St. in the Tarpon River Entertainment and Design District opened its doors in November. The studio, one- and two-bedroom units are already 65% leased. The development features a rooftop pool, a gym, a clubhouse and 3K SF of coworking.
A JLL team of Scott Aiese, Alex Staikos and Michael DiCosimo arranged the debt.
CONSTRUCTION AND DEVELOPMENT
Empira Group broke ground on its 310-unit Brickell residential tower, according to a release.
The Perrin is set to rise 26 stories at 244 SW Ninth St. with studios, one-, two- and three-bedrooms, 380 parking spaces and more than 2K SF of retail. Amenities include a rooftop garden, a tea room, a fitness center with a yoga room, and coworking space.
The developers landed a $111M construction loan from Goldman Sachs in May. The Swiss developer plans to deliver the project in 2027.
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Charleston-based marina owner Port 32 broke ground on its $80M redevelopment of Port 32 Palm Beach Gardens marina, according to a release.
The redevelopment, led by Miller Construction Co., will replace the 600 feet of seawall and 1,000 feet of floating docks, add two new metal buildings, a ship store and new fuel tanks and dispensers.
The updated marina will have 471 boat slips, 20 wet slips, 26K SF of showroom space and 9K SF of office.
SALES
Entities tracing to Aventura-based The Faith Group sold Miramar Parkway Plaza to Longpoint for $34M, according to property records provided by Vizzda.
The nearly 168K SF neighborhood shopping center comprises four buildings built in 1973, 1986, 2003 and 2024. The plaza is anchored by a Presidente Supermarket at 3176 S. University Drive.
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California-based T2 Hospitality purchased a beachfront hotel from FDG NORTH LLC, managed by Liubov Tereshko, for $36M, according to property records provided by Vizzda.
The two-building Plunge Beach Resort Hotel in Lauderdale-by-the-Sea totals 96K SF. The 163-room hotel at 4640 and 4660 El Mar Drive sold for roughly $224K per room. The property is ground-leased from Antina Investments III until 2056.
FDG NORTH LLC purchased the resort in 2013 and renovated it in 2017, the South Florida Business Journal reported.
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O’Connor Capital Partners purchased a Palm Beach County shopping center for $29M from Berta Management, according to a release.
The 86K SF, 9-acre Delray Corner is roughly 96% occupied, anchored by Michaels and CVS at 4771 W. Atlantic Ave. The center, built in 1981 and renovated in 2023, also has a Hacienda Restaurant, Enterprise Rent-A-Car, Power Financial Credit Union and Taso’s Greek Taverna.
Marcus & Millichap’s Mandel and Zach Levine represented the seller.
