A broker for Wynwood Park has released renderings of the project, with pre-leasing of the project underway. The developer paid $53.5 million for the land last year, or $1,250 per square foot – a record for Wynwood:
Metro 1 Commercial Unveils Renderings of Wynwood Park
The new renderings released at CIASF’s 2017 Wynwood Market Report on Feb. 17.
MIAMI – (February 2017) – Metro 1 Commercial, South Florida’s leading urban core real estate pioneer, unveiled new renderings of the highly anticipated Wynwood Park project on Feb. 17 at CIASF’s 2017 Wynwood Market Report Presentation event. Metro 1 has also just announced that that leasing has commenced on the project.
Wynwood Park was announced last year when Metro 1 Commercial and Whitehall Realty Group brokered a $53.5 million deal with ASG Wynwood LLC, an affiliate of ASG Equities and the Gindi Family, for a 42,000-square-foot lot on Northwest Second Avenue between 26th and 27th Street. Once complete, the project will encompass under an acre of adaptive re-use retail and just under an acre of open park space, creating a flagship retail space immediately adjacent to the Wynwood Walls and fronting Northwest Second Avenue.
The deal was brokered on an off-market basis, by Tony Arellano, Tony Cho and Andres Nava of Metro 1 Commercial LLC along with Devlin Marinoff, Jordan Gimelstein and David Spitz of Whitehall Realty Group.
“We are extremely pleased with the progress that we’re making on Wynwood Park,” said Tony Arellano, Executive Vice President of Metro 1 Commercial. “We created this concept because we wanted to continue to amplify Wynwood into an area unlike any other part of Miami. These new renderings are really going to show the community our vision behind the project and get them excited for what’s to come.”
Wynwood Park is being designed by MKDA Architecture, a New York City-based architecture firm with a local Wynwood office. The project is set to become a landmark venture for the Wynwood area, which will endorse and embrace the area’s unique retail vibe, creating a sense of place, discovery and an innovative retail experience.
“When people visit Wynwood, they are looking to get away from the hustle and bustle of typical Miami life,” stated Tony Cho, Founder and CEO of Metro 1. “Wynwood Park is going to offer an alternative experience, where visitors can shop at their leisure and enjoy the beautiful Miami weather in a scenic and green open space. This project is truly the first of its kind in the area.”
Metro 1 Commercial and Whitehall Realty Group will exclusively handle landlord representation and leasing services for the project. Pre-leasing is currently underway with a number of potential tenants, who will be tailored to fit Wynwood and its neighboring areas.