CBRE arranged multiple leases on behalf of ownership at 48 NW 25th Street, a retail, showroom, and creative workspace in the heart of Miami’s Wynwood neighborhood, one of the largest and most prominent creative communities in the United States. Most recently, CBRE’s Zach Winkler and Kevin Gonzalez represented Forte Capital Management in securing transactions with the Scripps Network, GoPro Inc., and Cooltech Inc. to the recently renovated former warehouse.
“We are thrilled to have brought a multitude of credit, household names to the building and to Wynwood as a whole, and believe that 48 NW 25th Street is a prime example of what a fully executed transformation in the market can achieve,” said Mr. Winkler.
“This was a highly collaborative multi-faceted approach involving CBRE’s office and retail teams,” said Mr. Gonzalez. ““This allowed the property owner to benefit from a unique combination of my office transaction experience and Zach’s retail expertise as well as deep property and market knowledge. While some may see Wynwood as a nontraditional office market, we saw it as an opportunity for tenants to stand out in a rapidly evolving neighborhood.”
With just one suite remaining at 48 NW 25th Street, Scripps Network will occupy 4,640 square feet in Suites 102 and 103, GoPro has taken 4,469 square feet in Suite 109, and Cooltech will hold 3,713 square feet in Suites 107 and 108. Other prestigious tenants include Revlon, Shorecrest Construction, and Bieffe Designs.
The building underwent a full renovation, with each space delivered as a vanilla box with soaring 22-foot ceilings, modern bathrooms, new HVAC, and polished cement floors. The building is located between N. Miami Avenue and NW 2nd Avenue, and features frontage and on-site parking along both NW 25th and NW 24th Streets.
GoPro was represented by Will Morrison of JLL. Scripps Network was represented by Dave Steinfeld of JLL.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
