MIAMI—The newest office asset on Miami Beach is already up for grabs. The five-story WeWork South of Fifth coworking office building is on the market.
The WeWork building sits at the intersection of Fifth Street and Lenox Avenue. CBRE's Christian Lee, Jose Lobon, and Marcos Minaya are representing the owner, an affiliate of Atlanta-based Goddard Investment Group's Goddard Value-Add Office Fund I, in the disposition.
“Gutted and renovated from shell condition in 2016, this unique office asset is the product of a multi-million-dollar investment in capital improvements by both the tenant and landlord,” Lee, a vice chairman at CBRE, tells GlobeSt.com. “The next owner-investor will be able to take full benefit from a uniquely updated co-work property in one of the region's most desirable areas.”
The WeWork office building spans 43,500 square feet of office space. The asset also includes a two-story parking structure.
The Miami Beach location is of three WeWork stations in the Greater Miami area—and the only one with dedicated parking. The office asset offers 80 spaces, which is unique in the Miami Beach office scene. The office property also features an 8,000-square-foot landscaped roof-deck used for events, gatherings, breaks, and lounging.
WeWork took occupancy of the South of Fifth office building July 1st 2016. The alternative workspace project, which includes 550 desks, is already 86% leased on their existing 550 desks. WeWork plans on delivering another 250 desks by November with 100% occupancy expected by year-end.
MIAMI—The newest office asset on Miami Beach is already up for grabs. The five-story WeWork South of Fifth coworking office building is on the market.
The WeWork building sits at the intersection of Fifth Street and Lenox Avenue. CBRE's Christian Lee, Jose Lobon, and Marcos Minaya are representing the owner, an affiliate of Atlanta-based Goddard Investment Group's Goddard Value-Add Office Fund I, in the disposition.
“Gutted and renovated from shell condition in 2016, this unique office asset is the product of a multi-million-dollar investment in capital improvements by both the tenant and landlord,” Lee, a vice chairman at CBRE, tells GlobeSt.com. “The next owner-investor will be able to take full benefit from a uniquely updated co-work property in one of the region's most desirable areas.”
The WeWork office building spans 43,500 square feet of office space. The asset also includes a two-story parking structure.
The Miami Beach location is of three WeWork stations in the Greater Miami area—and the only one with dedicated parking. The office asset offers 80 spaces, which is unique in the Miami Beach office scene. The office property also features an 8,000-square-foot landscaped roof-deck used for events, gatherings, breaks, and lounging.
WeWork took occupancy of the South of Fifth office building July 1st 2016. The alternative workspace project, which includes 550 desks, is already 86% leased on their existing 550 desks. WeWork plans on delivering another 250 desks by November with 100% occupancy expected by year-end.
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