Oak Row Equities and L&L Holding Co. are making waves in the South Florida real estate market with their latest achievement at Wynwood Plaza.
The mixed-use project, located at 95 NW 29th St., has secured a significant tenant: OKO Group, a development firm led by billionaire Vladislav Doronin.
OKO Group has signed a 25,000 square foot lease in the 266,000 square foot office building, which hosts a variety of other notable tenants, including Amazon, which recently expanded its lease to 76,000 square feet, and law firm Weitz & Luxenberg.
This new move will see OKO Group relocate its offices from the Miami Design District, specifically at 4100 NE Second Ave.
In other leasing news, Legacy Wealth Advisors and NewCo Capital Group are set to move their headquarters to The Well Bay Harbor Islands, occupying more than 13,000 square feet combined, as reported by Commercial Observer.
Legacy signed for just over 5,000 square feet, while NewCo Capital Group secured 8,745 square feet at the wellness-focused mixed-use property, which encompasses nearly 99,000 square feet of office space and 66 condos along with more than 22,000 square feet of amenities.
The Well Bay Harbor has also attracted Tom Brady’s TEB Capital Management, which leased 8,415 square feet last year.
National law firm Kanner & Pintaluga has also made a substantial lease commitment, signing on at The Eclipse mixed-use development, created by BH Group and PEBB Enterprises, in Boca Raton.
The personal injury and property damage claims firm will occupy 77,000 square feet across part of the first floor, as well as the entire second and fifth floors of the north office tower located at 6600 N. Military Trail.
This ambitious 29-acre development will offer 405,000 square feet of office space, 500 multifamily units, 43,000 square feet of retail space, a gym, and several restaurants, with other office tenants including MN8 Energy and I Heart Mac & Cheese.
On the financing front, Fortune International Group and Blue Road have successfully secured a $73 million construction loan for Nexo Residences in North Miami Beach.
This loan follows the topping off of the building, which is being financed through a combination of condo sales deposits and EB-5 investor funds.
Nexo Residences will present 254 three- and four-bedroom residences starting at $599,000, along with a café, technology center, coworking spaces, a pool deck, a rooftop observatory deck, a children’s playground, a clubroom, an outdoor movie theater, a yoga studio, and a private event area.
Meanwhile, Moderno Development has refinanced its Rivr Lofts apartment building, located at 307 SW Fifth St. in Fort Lauderdale, for $117 million.
This 352-unit project is situated in the Tarpon River Entertainment and Design District and opened its doors in November, with 65% of its studio, one- and two-bedroom units already leased.
The development includes attractive amenities such as a rooftop pool, a gym, a clubhouse, and 3,000 square feet of coworking space.
In a new construction update, Empira Group has broken ground on its 310-unit residential tower, The Perrin, in Brickell.
This project, located at 244 SW Ninth St., will rise 26 stories and offer studios as well as one, two, and three-bedroom apartments, along with 380 parking spaces and over 2,000 square feet of retail space.
Amenities will include a rooftop garden, a tea room, a fitness center equipped with a yoga room, and additional coworking space.
The developers have secured a $111 million construction loan from Goldman Sachs, with plans to complete the project by 2027.
On the marina front, Charleston-based marina owner Port 32 recently broke ground on an $80 million redevelopment of Port 32 Palm Beach Gardens.
The ambitious redevelopment will replace 600 feet of seawall and 1,000 feet of floating docks, add two new metal buildings, a ship store, and new fuel tanks and dispensers.
The updated marina is set to feature 471 boat slips, 20 wet slips, 26,000 square feet of showroom space, and 9,000 square feet of office space.
In the realm of sales, entities linked to Aventura-based The Faith Group have sold Miramar Parkway Plaza to Longpoint for $34 million, as confirmed by property records from Vizzda.
This nearly 168,000 square foot neighborhood shopping center, which comprises four buildings constructed in 1973, 1986, 2003, and 2024, is anchored by a Presidente Supermarket located at 3176 S. University Drive.
Additionally, California-based T2 Hospitality has acquired a beachfront hotel from FDG NORTH LLC, managed by Liubov Tereshko, for $36 million, according to property records.
The two-building Plunge Beach Resort Hotel, situated in Lauderdale-by-the-Sea, occupies a total of 96,000 square feet.
The 163-room hotel, located at 4640 and 4660 El Mar Drive, sold for approximately $224,000 per room and is ground-leased from Antina Investments III until 2056.
FDG NORTH LLC originally purchased the resort in 2013, renovating it in 2017, as reported by the South Florida Business Journal.
Lastly, O’Connor Capital Partners has made a strategic investment by purchasing a Palm Beach County shopping center from Berta Management for $29 million.
The 86,000 square foot, 9-acre Delray Corner is roughly 96% occupied, and it is anchored by Michaels and CVS, located at 4771 W. Atlantic Ave.
Originally built in 1981, the center underwent renovations in 2023 and features a diverse range of tenants including Hacienda Restaurant, Enterprise Rent-A-Car, Power Financial Credit Union, and Taso’s Greek Taverna.
Marcus & Millichap’s Mandel and Zach Levine represented the seller in this transaction.
image source from：bisnow
