'Most Important Undeveloped Site' in Miami's Wynwood For Sale
‘Most Important Undeveloped Site’ in Miami’s Wynwood For Sale
A 1.72-acre slice of land in Miami’s Wynwood neighborhood is up for grabs in what could lead to a mixed-use project with rentals, shops, restaurants, offices and a hotel.
Cushman & Wakefield says it has been named the exclusive adviser for the sale of Strada Wynwood on behalf of the William & Doris Friedopfer Trusts. There is no asking price for the land, at Northwest Second Avenue and Northwest 25th Street.
The property can accommodate up to 259 residential units and more than 540,000 square feet of development. It currently houses two industrial buildings and a retail building, and is home to artist Romero Britto’s studio and art gallery.
“With its key location directly along Northwest Second at the clear geographic center of Wynwood, this is the most important undeveloped site in the area,” said Cushman’s Robert Given.
The brokerage said four other projects in the area are planned: CUBE Wynwood, featuring 80,000 square feet of offices and 11,400 square feet of retail; Wynwood 25 with 289 apartments and 31,000 square feet of retail; The Wynwood Garage totaling 428 parking spaces with 30,000 square feet of offices and 20,500 square feet of retail and Wynwood Walk offering 52,500 square feet of retail space.
Given said Wynwood can accommodate the different product types, which shows the strength and “diverse character” of the trendy, 50-block neighborhood north of downtown that once was an industrial eyesore.
“It’s happening,” Cushman’s Robert Kaplan added. “Wynwood has begun its next phase in the evolutionary process.”
Cushman’s Troy Ballard, Errol Blumer, James Quinn and Mark Rutherford are marketing the site with Given and Kaplan.