Recent Commercial Developments in South Florida: A Look at Key Moves
OKO Group Expands in Wynwood
Billionaire developer Vlad Doronin is making significant strides in Miami’s Wynwood neighborhood with OKO Group. The firm recently signed a lease for 25,200 square feet at the Wynwood Plaza mixed-use development, located at 95 Northwest 29th Street. This deal is highlighted in the Cushman & Wakefield’s second quarter office report for 2023, which confirms the active expansion in Miami’s real estate market.
In partnership with London-based Cain International, OKO Group previously completed the 830 Brickell office tower, further establishing its presence in Miami. The company currently operates from its office in the Miami Design District at 4100 Northeast Second Avenue.
PricewaterhouseCoopers Moves to Boca Raton
PricewaterhouseCoopers (PwC), a global leader in accounting and tax services, is relocating its West Palm Beach office to a new 11,100-square-foot space at 5100 Town Center Circle in Boca Raton. The move is set for spring 2024 and reflects PwC’s commitment to enhancing collaboration among its employees, as many are located in the northern parts of the tri-county region.
- The office will replace its current location of 3,300 square feet at the Phillips Point office complex.
- Pwc continues to operate its Wynwood office at 545Wyn, strategically maintaining its presence in the area.
- The Boca Raton building was acquired by Macquarie Capital and Vanderbilt Office Properties for $95.4 million in 2022.
Holtzman Vogel Baran Torchinsky & Josefiak Launches New Office in Coral Gables
The law firm Holtzman Vogel Baran Torchinsky & Josefiak is expanding to South Florida with a new office at the Ryder Colonnade in Coral Gables. The firm has leased 6,400 square feet at 2333 Ponce de Leon Boulevard.
“This office will help us better serve our clients in the region,” stated a representative for the firm. The opening is anticipated for late 2023 or early 2024.
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MyBambu Grows Its Headquarters in West Palm Beach
MyBambu, a financial technology company that specializes in direct money transfers to Latin America, is expanding to a larger facility in West Palm Beach. The firm has leased 35,000 square feet at 2751 South Dixie Highway, located within The Press mixed-use complex.
- MyBambu previously operated from a 6,500-square-foot location in downtown West Palm Beach.
- The company aims to grow its workforce from 160 to approximately 350 employees.
- The redevelopment project of The Press was executed by Miami-based Tricera Capital, enhancing the localized business environment.
Lily’s Handmade Ice Cream Expands to North Miami Beach
The Gilinsky family is bringing Lily’s Handmade Ice Cream to North Miami Beach. The ice cream shop will launch a new location of 1,050 square feet at 14871 Biscayne Boulevard in the Biscayne Commons shopping plaza on August 8.
“We are excited to continue our growth, providing delicious handmade ice cream to more customers,” said Ronen Gilinsky, founder of Lily’s.
Conclusion
These recent developments in South Florida highlight the dynamic commercial real estate landscape and the increasing demand for adaptable workspaces in the region. As companies like OKO Group, PwC, Holtzman Vogel, MyBambu, and Lily’s expand, they contribute to a vibrant economic ecosystem that caters to the needs of modern businesses and their employees.
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