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Class-A Office Building Topped Off In Wynwood

Patch logo Patch 11/18/2020 Tiffany Razzano
a view of a city: The Gateway at Wynwood brings more Class A office space to the Wynwood's rising office submarket. © Plaza Construction The Gateway at Wynwood brings more Class A office space to the Wynwood's rising office submarket.

MIAMI, FL — New York-based R&B Realty Group has topped off The Gateway at Wynwood, one of the first Class-A office buildings of this scale to rise in this robust neighborhood, and Miami’s newest office market, according to a news release from R&B Realty. The general contractor Plaza Construction poured the roof of the 13-story building in November, ahead of schedule. The building will be completed in the second half of 2021.

The Gateway at Wynwood, located on the border of the iconic Wynwood and Midtown neighborhoods, will offer about 195,000 square feet of leasable Class A office space and nearly 25,900 square feet of prime street-level retail space. Designed by renowned Architect Kobi Karp, the environmentally responsible, 460,000-square-foot building boasts flexible floorplans, a private rooftop terrace, floor-to-ceiling windows, 24/7 on-site security and 2:1,000 on-site covered parking, the news release said.

“This is one of the most important moments in the construction of a commercial project, especially as we are ahead of schedule amidst the pandemic,” said Shelby Rosenberg, principal of R&B Realty Group. “We are excited to see The Gateway at Wynwood is a step closer to reality. Our project will contribute to the transformation of Wynwood into a 15-minute city, where people can access their office, home, the grocery store, restaurants and more within a 15-minute walk.”

Brad Meltzer, president of Plaza Construction, added, “Despite the challenges that COVID-19 has posed across our industry, we are proud to have been able to reach this milestone on time and without incident. We prioritized the health and safety of all stakeholders with great success, and we look forward to continuing to deliver exemplary construction services to the South Florida market and beyond."

R&B Realty’s vision for Wynwood has helped fuel a new office submarket in Miami, creating competition for more established office markets, such as downtown Miami, Brickell, Aventura and Coral Gables, according to the news release. Already, several big-name companies have made Wynwood their home, including Spotify, Live Nation and WeWork. Other companies looking at the area include Apple Music, Google, Dentsu and other creative marketing agencies.

“We are actively engaged with prospective tenants that are attracted to Wynwood because of its ‘live, work, play’ environment,” said Stephen Rutchik, Colliers International Florida’s executive managing director, who handles office leasing for The Gateway at Wynwood. “This area has become a mecca for art, food and entertainment just north of downtown Miami. While a few companies are hesitant to sign new leases just now, they do know exactly where they want to be…and that is Wynwood. We expect many of the deals in the pipeline for The Gateway at Wynwood will come to fruition as we get closer to completing the building later next year.”

While the area has seen significant change over the past five years, the next five years will bring even greater change as new construction is underway that will aid in Wynwood’s evolution, the news release said. In the next few years, the total supply of buildings in the Wynwood area is projected to increase by 35 percent to around 5.3 million square feet, based on projects under construction and in the planning stages.

With the continued growth of the multifamily market, there will be an increased demand for office space, the news release said. The full-time population in Wynwood will increase by 1,206 persons based on delivery of 464 units under a market average of 2.6 persons per household.

At the same time, the population in the nearby greater downtown Miami area has grown significantly in recent years. Greater downtown's population was 92,235 people in 2018, and the Downtown Development Authority estimates the population has increased by nearly 3,700 people since 2016, about 4 percent growth in two years. That’s more than 1,500 people moving to downtown each year, the release said.

Colliers International’s Stephen Rutchik and Tom Farmer are handling office leasing for the project, and CBRE’s Alex Cesar and Drew Schaul are handling retail leasing.

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