Avison Young negotiates lease for shared-workspace franchise tenant ‘Venture X’

Opening in Doral in early 2019, Venture X services will meet the needs of entrepreneurs as well as businesses and companies of any size.

Opening in Doral in early 2019, Venture X services will meet the needs of entrepreneurs as well as businesses and companies of any size.There’s a new franchise in town – and Avison Young is responsible for completing their long-term lease into the 92,786-square-foot class A office building at 8350 NW 52nd Terrace in downtown Doral.

New-to-market tenant “Venture X,” a premium membership-based shared workspace for entrepreneurs and businesses, is slated to open in a 14,076-square-foot space here during in the first quarter of 2019.

Principal and Managing Director of Avison Young’s Miami operations Donna Abood joined Senior Associate Joe Abood in completing the lease transaction for the location. Fairchild Partners Senior Advisors Jonathon Lay and Tony Puente represented the landlord, Doral 8350 Office, LLC.

“Venture X is uniquely positioned as a major player in the shared office space market, the fastest-growing office segment in the U.S., with its new concept of boutique hotel-style hospitality and an inspiring community that feels professional and welcoming,” said Ms. Abood.

“As such, the company required a space in a submarket that will draw entrepreneurs and businesspeople seeking a particular niche experience – and the downtown Doral location we secured met the criteria perfectly,” she added.

Studies show that the Airport/Doral submarket has experienced consistent positive absorption and a declining vacancy rate, which posted at 6.32 percent as of second quarter 2018 according to research by Avison Young. The city is seeing new residential and retail construction signaling vibrant growth and offers generous parking ratios for free parking, a rarity in Miami.

“Our in-depth market insight allowed us to educate our client on Miami-Dade’s diverse real estate submarkets and advice on the optimal location for its expansion,” said Mr. Abood.

Venture X Doral will bring to the area a shared workspace community with membership consisting of entrepreneurs, creative professionals, freelancers, remote workers, startups, nonprofits, small businesses, and large teams from Fortune 500 companies. Venture X provides members with remarkable functionality complemented by boutique hotel-style concierge services.

The brand’s facilities offer modern, high-end office spaces designed to provide the ultimate business environment, as well as high-tech meeting rooms, high-speed internet, 24/7 keycard access, events focused on social, educational, and entrepreneurial themes, a centralized café & lounge that serve as a hub for collaboration, networking, and business growth.

“Expansion here in the Miami market was both a strategic and natural next step for our company,” said Venture X President Tom Weber. The company’s services are designed to meet the needs of entrepreneurs as well as businesses and companies of any size.

“We appreciate the Avison Young team for learning our brand and for their guidance in selecting a location that will best position us to provide workspaces where members can connect, be inspired, and improve their businesses,” he noted.

In Florida, Venture X is presently in Naples, and has three other locations scheduled to open this year in Orlando, Palm Beach Gardens, and West Palm Beach.

About Venture X
Founded in 2012 by entrepreneurs, father and son, David and Brett Diamond, Venture X has been recognized by Inc. magazine as one of the best co-working spaces in the U.S.

For information, visit www.VentureX.com

About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,600 real estate professionals in 84 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, and multi-family properties.

For information contact Donna Abood at 305-447-7857 or visit www.avisonyoung.com.


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