WEWORK SIGNS LARGEST OFFICE LEASE IN MIAMI BEACH YEAR TO DATE
Firm will occupy a 40,000-square-foot space at 350 Lincoln Road
Miami Beach, FL – November 11, 2014 – (RealEstateRama) — CBRE, in collaboration with Nancy Cibrano of N Cibrano Realty, arranged a 40,000-square-foot lease for WeWork, the platform for creators, at 350 Lincoln Road in Miami Beach, FL. WeWork, which provides entrepreneurs, freelancers and small businesses with the space, community and services they need to grow their businesses, will occupy the majority of the space at the 50,000-square-foot, Art Deco-style office property in the heart of South Beach during the first quarter of 2015. CBRE and N. Cibrano Realty represented property owner The Wings Group in the transaction.
“This property’s location on the doorstep of the world-renowned Lincoln Road, along with its unique, historic features, makes it ideal for WeWork’s first Miami location,” stated Maggie Guajardo Kurtz, Senior Vice President of CBRE. “Co-working spaces are becoming increasingly popular among entrepreneurial individuals and companies, who yearn for a creative and collaborative environment in which to work. There are few places more vibrant and dynamic than South Beach – this will be a great asset to Miami’s office community.”
“In addition to being the largest lease transaction to date, this lease comprises the remaining available space in the building, bringing occupancy to 100%,” added Nancy Cibrano of N Cibrano Realty.
WeWork is the platform for creators, providing everything members need to create their life’s work. WeWork offers space that ranges from individual desks to multi-desk offices, a collaborative, digitally-enabled community and services that include healthcare, payment processing, discounts on Zipcar, hotels, and much more. Since its establishment in 2010, WeWork has grown to over 14,000 members across 20 different locations.
“We are thrilled to bring WeWork to Miami. The vibrancy of Miami’s small business and startup communities is the perfect match for WeWork’s unique offerings and energy,” said Mark Lapidus, Director of Real Estate at WeWork. “We are thankful to CBRE Group and N Cibrano Realty for helping us find the right area for our flagship Miami location. We look forward to opening our doors and fueling the growth of the city’s many small businesses.”
Acquired by The Wings Group in 2008, 350 Lincoln sits on the southeast corner of Lincoln Road and Washington Avenue, Miami Beach’s most prominent and visible intersection. A multi-million dollar renovation was recently completed to modernize the property and preserve its 1940s Art Deco design, including the original coral facade, marble floors, lobby entrance and vertical mail chute.
Businesses and individuals interested in becoming a member of WeWork’s inaugural Miami location can call 1-855-593-96751-855-593-9675.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
About N Cibrano Realty
Nancy Cibrano is an independent, licensed commercial real estate professional based in New York City who specializes in leasing, investment property sales and asset management. For 15 years, she has been offering clients a hands-on, creative approach covering the whole spectrum of commercial real estate needs. She also handles asset management for The Wings Group, a development, leasing, sales and management company based in New York City.
