2022
SOUTH FLORIDA BUSINESS JOURNAL | APRIL 2022
Makana Therapeutics Moves HQ To Miami
Jain and Cho bought the building, which was constructed in 1955, for $9.25 Million in 2014. It was later purchased by The Morgan Reed Group for $11 million, said broker Tony Arellano, managing partner of DWNTWN Realty Advisors.
PROFILE | MARCH 2022
Kush Building in Wynwood Sells for $2.6 Million
2003 North Miami Ave., a mixed-use property which is home to longtime Wynwood staple restaurant KUSH, has sold for $2.6 million on March 25. Matt Kuscher, owner of Kush Property LLC, purchased the property from Michael Lilov. Both sides of transaction were overseen by Devlin Marinoff, Tony Arellano P.A. and David Richman of DWNTWN Realty Advisors.
THE REAL DEAL | MARCH 2022
Marcus & Millichap moving Miami office to Gateway at Wynwood
The neighborhood has attracted real estate firms, as well. Commercial real estate data startup CREXi has a space at the Wynwood Annex. And DWNTWN Realty Advisors, which has represented many of the neighborhood’s landlords in lease deals, also moved its headquarters to Wynwood.
THE REAL DEAL | MARCH 2022
Wynwood’s growing pains
Leasing for 30,000 square feet of storefronts has gone better than expected, with tenants paying an average rent of $75 a square foot, Arellano said. “The concession packages are a little different for each tenant, and the rent structure depends on the space type,” Arellano said. “We are six months in, and the building is close to being stabilized. It usually takes about a year.”
THE REAL DEAL | MARCH 2022
Wynwood office, retail and parking portfolio hits market for $28M
A Wynwood real estate investor is looking to cash out of an office, retail and parking portfolio in Miami’s hottest neighborhood. Steve Rhodes’ asking price is $27.5 million, according to a brochure prepared by DWNTWN Realty Advisors, which is marketing the portfolio.
MIAMI TODAY | MARCH 2022
New-to-market tenants spur Wynwood office demand
“Wynwood has been called ‘the capital of Capital’ and it is known that venture capital firms and web3 companies – cryptocurrency and decentralized finance tenants – have chosen to go [there] and it makes sense,” said Tony Arellano, co-founder and managing partner of DWNTWN.
THE REAL DEAL | MARCH 2022
Self-storage firm buys Wynwood redevelopment site in Miami for $11M
A New York-based self-storage developer picked up a three-property assemblage in Miami’s Wynwood that is primed for redevelopment. Tony Arellano and Devlin Marinoff with DWNTWN Realty Advisors represented the seller in the latest deal. Jordan Karp with Jordan Karp LLC represented the buyer.
PROFILE | MARCH 2022
Wynwood Annex Sells For $49 Million To New-To-Miami San Francisco-Based Buyer
Related Group and East End Capital have sold Wynwood Annex for $49 million to a new-to-market San Francisco-based buyer Brick & Timber Collective. The transaction was overseen by DWTNWN Realty Advisors Co-Founders Devlin Marinoff and Tony Arellano P.A., who represented both the buyer and the seller.
MIAMI HERALD | MARCH 2022
San Francisco developer seeks to cement Wynwood as Miami’s tech mecca
“What started to happen was a cluster of tech and VC expats from the Bay Area and San Francisco and the West Coast, and others from New York, started to believe Miami could be their new home, and that Wynwood was sort of the preeminent and most appropriate neighborhood for their use,” Arellano said.
THE REAL DEAL | FEBRUARY 2022
Lease roundup: Blockchain.com opening HQ on two floors at Cube Wynwd in Miami
Dutch firm Eicholtz, a retailer of high-end furniture and home accessories, will occupy the first floor and mezzanine at the Miami Design District building at 3711 Northeast Second Avenue. Tony Arellano and Joe Fernandez of DWNTWN Realty Advisors represented the tenant and landlord.
COMMERCIAL OBSERVER | FEBRUARY 2022
Art Storage Company UOVO Adds to Wynwood Portfolio With $11M Buy
Art storage provider UOVO is expanding its Wynwood facility. The New York-based firm bought a 21,000-square-foot parcel at 328 and 342 NW 29th Street for $11.5 million. DWNTWN Realty Advisors’ Tony Arellano and Devlin Marinoff, who announced the sale, represented the seller.
COMMERCIAL OBSERVER | FEBRUARY 2022
AJ Capital Partners picks up Little River warehouse portfolio for $17M
In three deals totaling $17.3 million, an entity with ties to a Nashville-based real estate investment firm picked up a seven-warehouse portfolio in Miami’s Little River neighborhood. Tony Arellano from DWNTWN Realty Advisors represented Weprin’s entity in the Little River deals.
PROFILE | FEBRUARY 2022
Core Wynwood Development Site Sells For $11.5 Million
UOVO Storage Deluxe has acquired a core Wynwood development site at 330 NW 29th Street for $11.5 million from Red Group Estate. The buyer was represented by Jordan Karp and the seller was represented by Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors.
PROFILE | FEBRUARY 2022
Design 41 In Miami Design District Now Fully Leased After Swiss Watch Company Breitling Opens New Boutique
“It is fitting that Breitling moves into the final available space on this important block and joins some of the world’s most luxurious retailers, such as Louis Vuitton, Ermenegildo Zegna, Tiffany & Co. and Burberry, in the Design District,” Arellano said. “We are proud of our role in leasing up Design 41 and helping the entire neighborhood reach its full potential.”
COMMERCIAL OBSERVER | FEBRUARY 2022
Breitling Opens in Miami’s Design District
The Swiss company finalized a 10-year lease for 1,832 square feet at the mixed-use Design 41 building earlier this month, according to brokers representing the landlord, DWNTWN Realty Advisors’ Tony Arellano and Joe Fernandez.
THE REAL DEAL | FEBRUARY 2022
CRE brokers adapt to brave new Miami market
The buzz about South Florida becoming “more relevant” has reached a near-deafening pitch. Startup transplants’ tweets extoll the region as their new mecca, and headlines rename the area the “Silicon Valley of the South” or the “Wall Street of the South.”
SOUTH FLORIDA BUSINESS & WEALTH | JANUARY 2022
Commercial Building in Miami’s Wynwood Neighborhood Nets $6.35 Million in Sale
DWNTWN Realty Advisors Co-Founders and Managing Partners Tony Arellano and Devlin Marinoff recently brokered the sale of a $6.35 million commercial building in the popular Wynwood neighborhood. The team represented the seller, Alex Karakhanian’s LNDMRK Development, and the buyer, Forte Capital’s Chaim Cahane and Sheridan Capital, which plans to renovate the 14,000-square-foot building at 2830 NW Fifth Ave. into creative offices.