Amazon Signs Wynwood's Largest Lease Ever
Amazon’s new home in Miami won’t arrive overnight — but it’ll be a record delivery for the office market.
The global e-commerce giant spent the last two quarters searching for prime office space and found it in Wynwood, with an opening expected later this year.
Amazon is leasing more than 50K SF, the largest office lease ever recorded in Miami’s art district.
L&L Holding Cos., Oak Row Equities, Shorenstein Investment Advisers and co-investor Claure Group are working with Amazon to design the office space in nearly completed mixed-use development Wynwood Plaza, according to a release.
“We’re thrilled Amazon has selected Wynwood Plaza as its home in Miami,” L&L Holding Vice President Bryan Lapidus said in a statement. “As one of the only new office towers delivering in the market this year, we’re confident it will continue to draw leading companies seeking a world-class, highly-amenitized workspace in one of the most exciting regions in the country.”
The office should be pretty packed — Amazon announced a five-day in-office policy in September.
Wynwood Plaza, at 95 NW 29th St., includes a 12-story office tower, 509 rental apartments, retail space and restaurants across 1M SF. The project broke ground on the 2.85-acre site in early 2023 and is expected to be delivered this year.
The developers were represented by Cushman & Wakefield’s Andrew Trench, Edward Quinon and Brian Gale. Amazon was represented by Tom Capocefalo and Mike Catalano of Savills.
Amazon joins a list of tenants including investment firm Claure Group, which leased 25K SF, and law firm Weitz & Luxenberg, which leased 18K SF to set up its first Miami office.
L&L Holding declined to comment on the terms of the lease. However, Wynwood has become one of Miami’s most expensive office markets, with rents rising 6.4% year-over-year to about $86.99 per SF, second only to Miami’s Brickell neighborhood, according to CBRE’s fourth-quarter report.
After Miami native Jeff Bezos announced his homecoming in 2023 on Instagram, it was only a matter of time before his empire followed. Amazon began its hunt for 50K SF in Miami that year.
Amazon has remained active in Miami, announcing in September it would open a 1M SF fulfillment center in South Dade to employ more than 1,000 local residents. The center is Miami-Dade County’s first Amazon cross-dock facility to sort and process goods, CBSNews reported.
The office expansion runs counter to Amazon's announcement in March that it will trim its office footprint over three to five years to cut $1.3B of expenses.
