In a $49 million transaction, DWNTWN Realty Advisors successfully brought together Related Group, East End Capital, and new-to-Miami buyer Brick & Timber Collective for the sale of Wynwood Annex office building, a key property in Miami’s Wynwood Arts District.
Known for their innovative approach to Miami’s high-value urban investments, DWNTWN expertly matched this creative office space with an ideal buyer, highlighting the growing appeal of Wynwood as a destination where art, business, and culture converge.
Wynwood Annex Office Sale Overview
The sale of the Wynwood Annex office building, located at 215 NW 24th St in Miami’s vibrant Wynwood Arts District, stands as a significant transaction in the district’s evolving commercial landscape. DWNTWN Realty Advisors facilitated the $49 million sale, bridging the interests of both the seller, Related Group and East End Capital, and the new San Francisco-based buyer, Brick & Timber Collective, marking the buyer’s first entry into the Miami market.
This 58,090-square-foot office building, completed in 2019, quickly attracted a prestigious roster of tenants from tech, venture capital, and entertainment sectors. Wynwood Annex office’s unique, modern design and its high-visibility location have made it a magnet for high-caliber companies seeking a foothold in Miami’s rapidly growing arts and tech hub.
Miami Office Building Sale Project Highlights
- Location: 215 NW 24th St, Wynwood Arts District, Miami, FL
- Sale Price: $49 million
- Building Size: 58,090 square feet
- Buyer: Brick & Timber Collective
- Seller: Related Group & East End Capital
- Key Tenants: Founders Fund, Atomic Labs, Live Nation, RAMP, Wynwood Gulf Services
- Lease Structure: Primarily modified gross leases, featuring rental escalations for income growth
Understanding the Wynwood Annex and Miami’s MiMo District
The Wynwood Annex is much more than just a prime office building; it represents the spirit of innovation and creativity that defines the Wynwood Arts District. Known for its eclectic mix of art galleries, trendy eateries, and boutique retail spaces, Wynwood shines as a beacon for artists, entrepreneurs, and cultural influencers. The area’s surge in popularity spurred an increase in commercial demand, with high-profile developments like the Wynwood Annex meeting this growing need.
Located near other popular Miami neighborhoods—such as Midtown, Edgewater, and the Design District, the Wynwood Arts District offers a unique combination of cultural vibrancy and economic opportunity. The Wynwood Annex, with its modern architectural design and prime location, appeals to companies that value both aesthetic appeal and strategic positioning in one of Miami’s hottest markets.
DWNTWN Realty Advisors’ Expertise in Historic and Mixed-Use Property Sales
DWNTWN Realty Advisors brought their extensive expertise to the Wynwood Annex transaction, guiding the sale with strategic insight and market knowledge honed through years of experience in Miami’s competitive commercial real estate sector. This deal highlights DWNTWN’s commitment to creating value for both sellers and buyers, particularly in Miami’s urban core markets.
Their approach to securing a buyer for this fully leased, income-generating property demonstrates DWNTWN’s understanding of high-value office assets and their ability to connect with investors who seek properties with strong long-term potential.
DWNTWN’s Strategic Approach to the Wynwood Annex Office Sale
In executing this sale, DWNTWN Realty Advisors employed a multi-faceted strategy to position the Wynwood Annex as an ideal investment in Miami’s bustling commercial real estate landscape:
- Comprehensive Property Valuation
DWNTWN’s team assessed the Wynwood Annex’s current income streams and future growth potential, presenting a thorough analysis that underscored the building’s standing as a fully leased, income-producing asset with increasing NOI projections. - Zoning and Development Insights
With a flexible zoning designation that allows for mixed-use development, DWNTWN guided both buyer and seller through potential options for adaptive re-use or high-end office space renovations, maximizing the property’s future value. - Targeted Marketing Strategy
DWNTWN focused on promoting the property’s unique architectural style and prime Miami location, targeting investors attracted to Wynwood’s dynamic blend of art, tech, and culture. This tailored strategy drew interest from high-profile buyers who saw the building’s value within Miami’s innovative landscape.
Key Benefits of this Miami Commercial Real Estate Sale
This transaction delivered multiple advantages for both the buyer and the seller, maximizing the unique qualities and investment potential of the Wynwood Annex:
- Prestigious Location
Situated in the iconic Wynwood Arts District, notable tenants, cultural landmarks, and popular eateries surround the property, attracting businesses and investors eager to be part of Miami’s creative epicenter. - Income-Producing Asset
Fully leased under modified gross lease terms, the building offers an immediate income stream, benefiting the buyer while ensuring reliable revenue in a high-demand market. - Prime Positioning in a Growth Market
The Wynwood Annex’s location on NW 24th St and proximity to other key Miami neighborhoods enhances its appeal as a premier commercial investment with excellent access and visibility. - Potential for Adaptive Re-Use
With a modern design and zoning flexibility, the property aligns well with Miami’s adaptive re-use trends, positioning it for possible future conversions into retail, showroom, or hospitality spaces that meet the evolving demands of the Wynwood Arts District.
Invest in Miami’s Dynamic Office and Mixed-Use Properties with DWNTWN Realty Advisors
Are you considering an investment in Miami’s thriving office and mixed-use real estate market? DWNTWN Realty Advisors specializes in identifying high-value properties in Miami’s urban core and beyond. Contact us today to explore opportunities within Miami’s most desirable neighborhoods.