Diamedix Wynwood

$22,500,000

Posted: 2/14/2018
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About

About Diamedix Wynwood

Cushman and Wakefield, as exclusive marketing agent, is pleased to present the opportunity to purchase Diamedix Wynwood (the “Property”) – a ±2.27-acre parcel assemblage at the southern gateway to the Wynwood Arts District in the high-barriers-to-entry Miami-Dade MSA. The offering presents investors and developers with an exciting adaptive re-use or ground-up development project as the Property currently has five buildings totalling ±51,205 rba sf that can be renovated and retrofitted for high-end retail or creative office space, or be razed with the potential for up to 340 multifamily units. With direct frontage along N Miami Ave and NW 22nd street, Diamedix Wynwood offers incredible connectivity to all of the amenities the Wynwood Arts District has to offer including world-class art galleries, restaurants and entertainment, as well as being just minutes from the Downtown Miami/Brickell CBD, Midtown Miami, the Design District and the beautiful Miami beaches. The Property is also just minutes from the area’s main transportation hubs including I-95, I-195 and I-395, as well as the Miami International Airport and the new MiamiCentral rail station – with services from all four of the region’s trains including Brightline, Tri-Rail, Metrorail and the Metromover.

Adaptive Re-Use Potential

  • Excellent location incentivizes a number of re-uses of building
  • Existing structures coincide with current industrial feel of the neighborhood
  • Office, retail, commercial, and media potential uses highlight the versatility of the site

Ground-up DEVELOPMENT OPPORTUNITY

  • Potential to build up to 340 apartments with ground floor retail
  • Zoning allows for a multitude of purposes; residential, office, retail, or hospitality
  • The Project is zoned T6-8 allowing for up to 150 units per acre and building height up to 12 stories
  • Untapped growth beyond the numbers due to lack of institutional quality apartments, office, and retail space

DYNAMIC NEIGHBORHOOD

  • 91 Walkscore
  • Wynwood is home to Miami’s creative class. The area has attracted 70+ art galleries and an ever-growing number of restaurants, bars, and retailers
  • “Coolest Neighborhood in the World” – Vogue Magazine
  • “America’s Best Hipster Neighborhoods” – Forbes Magazine
  • One of the most active event locations in all of Miami

outstanding Market Fundamentals

  • Residential: Nearby apartment developments are achieving $3+ per square foot per month
  • Office: Wynwood is greatly underserved by high quality office buildings. Despite this, a number of submarket office buildings achieve rental rates that rival other top Miami office markets
  • Retail: Prime retail sites in Wynwood are achieving as high as $100 per square foot NNN and growing

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