Some tourists may be skittish, but well-known businesses are still coming to Wynwood.
GoPro, Scripps Network and Cooltech will be new tenants in a converted warehouse designed for retail, showrooms and creative workspaces.
CBRE’s Zach Winkler and Kevin Gonzalez represented Forte Capital Management in securing transactions with the three new tenants for the building at 48 NW 25th St. “While some may see Miami’s artsy Wynwood district as a nontraditional office market, we saw it as an opportunity for tenants to stand out in a rapidly evolving neighborhood,” Gonzalez said.
Scripps Network, which owns the Food Network, HGTV and the Travel Channel and sponsors the South Beach Wine and Food Festival, will occupy 4,640 square feet in Suites 102 and 103. Camera maker GoPro has taken 4,469 square feet in Suite 109, and Cooltech will hold 3,713 square feet in Suites 107 and 108; one site remains, CBRE said. Other tenants include Revlon, Shorecrest Construction, and Bieffe Designs. The building was recently renovated with 22-foot ceilings, polished cement floors, new bathrooms and new air conditioning.
Separately, The Wynwood Arcade, recently converted from an industrial warehouse into shopping, dining and galleries, is also attracting interest. Just three spaces remain available for lease at the Arcade at 50 NW 24th St., which already houses The Salty Donut, Bonobos, In the Kitchen with Norman Van Aken and other local boutiques, according to the developer, East End Capital.
East End Capital recently launched an artist-in-residence program at the Arcade, including New York City-based artist Shawn Kolodny and Japanese artist Hitotzuki, who will work on a series of wall murals at the Arcade. “From the beginning, it has been a priority for us to make Wynwood Arcade a reflection of the artistic and creative character of the neighborhood,” said Jonathon Yormak, managing principal of East End Capital.
Fears about the Zika virus have recently taken a toll on businesses in the area, particularly outdoor restaurants and other gathering spaces, but they are reporting that traffic is beginning to return to the popular Miami district known for its lively murals and creative businesses.