East End Capital recently closed on the $14.5M purchase of three Wynwood warehouse properties located at 310 through 318 NW 25 St., adjacent to East End’s planned Wynwood 25 mixed-use development.
This latest acquisition adds to East End’s growing Miami portfolio, which includes artistic retail and dining destination Wynwood Arcade, planned rental and retail development Wynwood 25, and iconic Downtown Miami office tower 100 Biscayne.
“We are excited to add these properties to our Wynwood portfolio and look forward to bringing artistic and creative companies that add to the unique fabric of the neighborhood,” said Marc Gitto, director of East End Capital.
The properties encompass 26,700 square feet that make up three adjacent warehouses and a 6,000-square-foot parking lot. The space will be available for lease, offering an opportunity for a large-footprint user to include outdoor space and/or off-street parking. It is ideally located at the intersection of NW Third Avenue and 25th Street, where the pilot project for a Wynwood “woonerf” (shared street concept) is proposed to be located.
Brokers Jon Gerzsberg of Marcus & Millichap and Andy Charry of FIP Realty represented East End for this transaction.
East End Capital recently closed on the $84M purchase of 100 Biscayne Blvd., the Downtown Miami office building historically known as the New World Tower, and announced plans to make $10M worth of upgrades to the building that will help attract tech and creative tenants. Wynwood Arcade has seen leasing success, with only three spaces currently available. Progress on Wynwood 25 continues toward a groundbreaking in the first quarter of 2017.
For more information about East End Capital, visit www.eastendcap.com.