Hospitality Group Plans Headquarters Move To Miami, Where It’s Opening 4 Restaurants
A hospitality group with restaurants in the U.S., Canada and the UK is moving its global headquarters from Los Angeles to Miami as it prepares a major push into the Magic City.
Noble 33 is planning to relocate its headquarters to Wynwood as part of its expansion into Miami, where it is slated to open four restaurants in the next two years, the South Florida Business Journal reports. The move comes as the city has become a top destination for expansions of upscale restaurant brands and retailers chasing the influx of wealth that began during the height of the pandemic.
Miami will be Noble 33’s largest market once the local restaurants open, Tosh Berman, a co-founder of the hospitality group, told the SFBJ. It is aiming to have more than 700 employees in the area by 2025. A majority of the company’s executive and operations team are already based in Miami, he said.
"It is an exciting and expected move for our corporate headquarters to follow suit, as this is where a majority of our staff will be located," Berman told the publication.
Noble 33’s restaurants are planned to open in 2024 and 2025 in Miami’s tourism, nightlife and financial hot spots.
The group is planning to open two restaurants at the under-construction Moxy Miami Wynwood hotel, a Marriott property at 225 Northwest 25th St. The ground floor will host an 8,700 SF Sparrow Italia designed by Miami-based Kobi Karp Architecture and New York-based Icrave that is slated to open in early 2024. It is also planning Casa Madera, a 17K SF Mexican restaurant that is planned to open in the spring on the top two floors of the hotel.
Its third Miami restaurant, a 14K SF Mexican steakhouse called Toca Madera, is planned for Brickell at 1101 South Miami Ave. and is slated to open at the end of 2024. In Miami Beach, Noble 33 is planning to open Meduza Mediterrania at 1620 Drexel Ave. in early 2025.
The locations are all new outposts of existing concepts that are among the 12 restaurants Noble 33 operates in London, Toronto, Los Angeles, West Hollywood, Las Vegas, Houston, New York and Scottsdale, Arizona.
Noble 33 didn’t respond to Bisnow’s request for comment. The company is among a wave of restaurant operators pushing into or expanding in Miami as the hospitality industry looks to capitalize on the influx of high net worth transplants from places like New York.
Miami has 12 restaurants with Michelin stars after the guidebook announced in 2021 that it would start rating restaurants in the city. Restaurants also signed the three largest new retail leases of the third quarter, according to Colliers.
“Retailers are one thing,” Lisa Ferrazza, the senior director of retail leasing at the Miami-based investment firm Tricera Capital, told Bisnow in July. “The pool of expanding soft goods, fashion retailers is much more shallow than the food and beverage market. That's really where we see most of the activity.”
Retail vacancy was 3.3% in Miami in the third quarter, with more than 326K SF of positive absorption, according to Colliers. A 10-basis-point uptick in vacancy from the previous quarter was driven by the delivery of more than 535K SF of retail space that also helped push asking rents down 0.7% to $43.33 per SF.
Gordon Ramsay’s Hell’s Kitchen concept opened in late September in 16K SF at Met Square, a mixed-use property of four towers in Downtown Miami with 800K SF of office space, 1,100 residences and 357 hotel rooms.
Plans for New York restaurant Philippe Chow to open a Miami Beach outpost at the One Ocean South Beach residential building were submitted to the city in July. The space would be a return to South Florida for the restaurant, which had locations in Boca Raton and Miami Beach that closed in 2013 as part of a bankruptcy.
The third-largest new deal came from RosaNegra, a Latin American restaurant that is planning to open in 14K SF at the SLS Brickell Miami hotel. The location is slated to be the brand's first in the U.S.
“We're getting a lot more Michelin chefs, and everybody knows how competitive the F&B market is,” Ferrazza said. “So everyone is trying to outdo each other in the Miami market to have a presence to be talked about and be seen.”