BILLION-DOLLAR DEVELOPMENT BOOM UNDERWAY IN HALLANDALE BEACH

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Nestled north of Miami between Aventura and Hollywood, about 20 minutes from Fort Lauderdale-Hollywood International Airport, the quiet 4.4-square-mile coastal town of Hallandale Beach is having its moment.

A cool billion dollars’ worth of new development is ongoing in the city, reports the Hallandale Beach Community Development Agency. Along with its popular sandy beaches, acclaimed dining and lively nightlife scene, the town has rolled out a wave of upscale residential developments.

The result: A hitherto little-known town has begun to appear prominently on the radar of investors, luxury home buyers and jet setters across the globe. It’s all quite a change for a city that didn’t even settle on its current name until a few months prior to Y2K.

A look at the particulars of this development boom begins at Slate Hallandale Beach. Delivering New York City-like style to Southeast Florida, the 26-story high-rise was developed by Ari Pearl’s PPG Development.

Part of a half-billion-dollar makeover of the Diplomat Golf Resort & Tennis Club to include a hotel and new Greg Norman-designed 18-hole golf course, Slate established a new benchmark for rental developments in Hallandale Beach. It features more than 20,000 square feet of amenities, including tennis courts, golf simulator, wine cellar with personal storage for residents, concierge, valet and fully loaded fitness facilities with Pilates equipment, Hydrow rowers and more.

“Hallandale Beach has always been a desirable location full of possibility,” Pearl says. “But [it] never had a development of this caliber, offering expansive, resort-inspired amenities and stylish modern residences combined with the convenience and flexibility of living in a rental community.”

Classy condominiums

Along with this trend-setting rental development, Hallandale Beach also offers options for luxe condominium buyers

For instance, KAR Properties’ 38-story glass tower called 2000 Ocean, situated just north of South Florida’s Golden Beach, features multimillion-dollar full- and half-floor oceanfront homes incorporating three to five bedrooms. Set off by fountains, a waterfall and spectacular frondescence, Hallandale Oasis fills a full city block, offering a live-work-play setting combining 250 luxury condominium residences and more than 50,000 square feet of new commercial space unveiled last year.

Renters and buyers of upscale homes are of course eager to sample their home turf’s entertainment scene. So the city has taken the wraps off a few new glittering restaurant and nightlife concepts.

Breakwater Hospitality Group’s tented and open-air Carousel Club, featuring an emerald garden for lounging and lawn games, represents the newest entertainment mecca in Hallandale Beach. ETARU, a second-story restaurant, bar and terrace from Zuma restaurants’ creator Rainer Becker, serves up contemporary Japanese robatayaki grill cuisine to go with a panorama of dramatic waterfront views.

Time to unwind

The Hallandale beachfront has long given folks plenty of opportunity for relaxation and recreation. Soon they’ll have more. The new Greg Norman-designed 18-hole golf course will center a 127-acre development featuring an exclusive country club, luxury residences and a resort. The new Golden Isles Tennis Center will offer four clay and six hard tennis courts, four pickleball courts, two bocce courts and two basketball courts.

And as office tenants continue to pursue a post-Covid flight to higher-quality Class A buildings, they are enjoying new options in Hallandale Beach.

With Blanca Commercial Real Estate as its leasing representative, Optima Onyx, the newest tower in the city’s three-tower state-of-the-art office development known as Optima Towers, has become home to investment management firms, banks and medical office companies, among others.

Put it together, and you have today’s Hallandale Beach, Fla. Given all the town has going on, it looks like those quiet 4.4 square miles won’t be quiet much longer.

TERRA LAUNCHES LEASING FOR THE ARQUITECTONICA-DESIGNED ‘THE OFFICES AT THE WELL’ IN MIAMI’S BAY HARBOR ISLANDS

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Daniella Aragon-Andre
Levy Public Relations

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One of Miami’s most in-demand neighborhoods is getting a welcomed dose of modern office space. The Offices at THE WELL is part of a new mixed-use development set to rise in Miami’s exclusive Bay Harbor Islands neighborhood, becoming the first high-end office building to launch in the community in decades. Developed by Miami-based Terra, THE WELL Bay Harbor Islands development will include 98,420 square feet of class AA office space, 54 luxury residences, 11,000 square feet dedicated to an integrated wellness experience operated by New York-based wellness company, THE WELL, and a 6,500 square foot signature food and beverage outlet, complete with an expansive rooftop with amenities, garage parking and an elevated plaza. Construction is scheduled to begin in Q1 2023, with completion anticipated in late 2024.

Located at 1177 Kane Concourse, The Offices at THE WELL Bay Harbor Islands will meet growing demand for high-end boutique office space as residents and companies continue to gravitate to South Florida, while reinvigorating Bay Harbor’s iconic Kane Concourse main thoroughfare.

THE WELL New York opened in 2019 as a luxury health and wellness destination that offers clients a range of holistic healthcare services – from Eastern healing practices and Western medicine – including fitness classes, yoga and meditation, acupuncture, sound therapy, spa treatments, and access to the top practitioners in functional medicine and beyond. Since its New York City launch, the brand has expanded with additional locations in Connecticut with THE WELL at Mayflower Inn, and Costa Rica with THE WELL at Hacienda AltaGracia. THE WELL Bay Harbor Islands will become the company’s first Florida location.

“THE WELL Bay Harbor Islands will be a premier address for working, living and wellness just as Miami enjoys a surge of new residents and businesses,” said David Martin, CEO of Terra. “The Offices at THE WELL will be an ideal option for companies looking to incorporate wellness into the workplace, with tenants being able to access all of the exclusive benefits of THE WELL’s curated programming and wellness center.”

Designed by Arquitectonica, with interiors by Meyer Davis, the Offices at THE WELL will reimagine the traditional office lobby into a programmed social space for tenants featuring food and beverage service, unique gathering spaces, and the ability to book THE WELL micro treatments. The development will include four floors of office space complemented by a grand lobby and a rooftop amenity deck, with on-site amenities such as a social lobby and café with comfortable lounge areas, where coffees, juices, and culinary treats can be enjoyed and ordered via text for quick, convenient service. For an outdoor work experience, tenants will have access to greenhouse-style work pods as well as a rooftop level with outdoor meeting areas and community gardens. Office users will also benefit from additional outdoor experiences at an elevated landscaped Plaza, a controlled access parking garage, office valet, and state-of-the-art security.

Office tenants will receive a discounted membership to The Club at THE WELL Bay Harbor Islands, which will include a state-of-the-art fitness and wellness center, as well as full-service concierge services from THE WELL Team, dedicated private outdoor and indoor classes, access to annual health coaching sessions to guide tenants in creating individualized wellness plans, preferred pricing on treatments and services, and exclusive benefits across THE WELL locations globally.

Terra has enlisted a best-in-class team to represent The Offices at THE WELL Bay Harbor Islands, with the Blanca Commercial Real Estate team of Tere Blanca, Danet Linares, Christina Jolley, and Nicole Kaiser leasing the building’s office space.

“Today’s office users are placing emphasis on planning and building custom-designed space in areas that are walkable, accessible to shopping and housing, and which offer on-site outdoor recreation. The Offices at THE WELL Bay Harbor Islands checks all of these boxes – and more,” explains Tere Blanca, CEO of Blanca Commercial Real Estate. “The Offices at THE WELL’s superior technology systems, sustainability initiatives, private rooftop space, and exclusive on-site access to THE WELL and its network of health and wellness destinations globally are appealing to firms looking to establish their presence in one of Miami’s most sought-after neighborhoods.”

Bay Harbor Islands is an exclusive community made up of two islands connected by the Kane Concourse/Broad Causeway bridge, which also leads to Bal Harbour, Surfside and Miami. Other nearby neighborhoods of interest include Indian Creek and Sunny Isles on the Atlantic side, and Sans Souci and Miami Shores to the west. Bay Harbor Islands has its own elementary school, the Ruth K. Broad Bay Harbor K-8 Center, which is consistently rated among the top public schools in the county, along with three neighborhood parks, a tot-lot playground, outdoor fitness space, public tennis courts, a community center, and an assortment of independent shops, galleries, bistros, and professional offices.

2 MORE BUSINESS SERVICES FIRMS EXPANDING TO MIAMI

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Daniella Aragon-Andre
Levy Public Relations

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The number of companies looking to participate in the Miami business boom is growing again, as two more service firms announced new offices in the Magic City this week.

Omni Bridgeway, an Australian litigation financing firm, said on Tuesday that it is expanding into the Miami market, hiring Lauren Alexander from Weil Gotshal & Manges LLP as an investment manager and head of the new office, according to a press release.

Alexander and Enrique Molina are the firm’s first two local hires. It is “actively looking for office space” that will help the firm grow organically, a spokesperson said. Omni Bridgeway provides financing and risk management services for litigation and is publicly traded on the Australian Securities Exchange. It is also opening a Chicago office.

The Consello Group, a New York-based financial services company that launched last year, also announced its plans for a Miami outpost Tuesday. The company issued a press release that said it would be establishing offices in Miami and London, and “several senior executives and additional employees” would relocate to the cities.

Consello invests on behalf of clients and offers business development services and advises on digital asset strategy, the press release says. A Consello spokesman didn’t respond to an inquiry about the new office’s size or location.

“As we continue our global expansion, it is essential that we have a strong presence in the locations most important to our clients,” Consello Chairman and CEO Declan Kelly said in a statement. “Our office in Miami will tap into the burgeoning financial and business activity in South Florida that has seen such rapid growth in recent years.”

Miami-Dade County expects to welcome 150 new companies to the market this year, according to the Miami-Dade Beacon Council’s annual report published in November. That would be an enormous jump from the 57 companies that either relocated or expanded to the county in 2022. Combined, those companies committed to occupying more than 1M SF of commercial space.

The local office market has benefited from the unprecedented run-up in demand. Asking rents were up 14% year-over-year in Class-A space across the entire city in the fourth quarter, according to CBRE. In Brickell, which is capturing more of the migration than any other submarket, Class-A asking rents hit $88.83 per SF in the fourth quarter, a 33% increase, according to Blanca Commercial Real Estate data provided to Bisnow.

Miami saw 1M SF of leasing activity in the quarter and a record 4.3M SF of leases signed in 2022, 811K SF of which are to be occupied by new-to-market tenants.

PROPTECH COMPANY RELOCATES TO 8,200-SQUARE-FOOT OFFICE IN SOUTH BEACH

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A local proptech company just relocated to a larger office space in South Beach.

In January, DoorLoop took over the entire second floor of Lincoln Place, a 139,887-square-foot building at 1601 Washington Avenue. The 8,142-square-foot space will hold more than 60 people working in the areas of tech support, account management, marketing, development, customer service, migration, HR, recruiting, accounting, and more, said Caraline Harwood, DoorLoop’s operations manager.

DoorLoop was previously located in a 3,000-square foot space at 560 Lincoln Road in Miami Beach

Harwood said the company relocated to Lincoln Place because it provides enough room for the company to grow. The building was also in an area already familiar to DoorLoop’s existing employees, and it’s is a prime location to help attract additional talent, she added.

DoorLoop was represented by Tyler De la Pena and Stephen Rutchik of Colliers. Lincoln Place’s landlord, Nightingale Properties, was represented by Chris Harak, Sky Jones, and Tere Blanca of Blanca Commercial Real Estate.

Founded in 2019, DoorLoop provides an automated management process for landlords that includes listing units, rent collection, and maintenance. It has raised $30 million from venture capitalists so far, including $20 million from Alpine Software Group last September.

Miami Beach’s office market has attracted a lot of interest from financial services companies as well as tech companies. The leasing activity has been driven by business owners who live in Miami Beach and don’t wish to commute from other areas, brokers have told the Business Journal.

Although technically owned by the City of Miami Beach, Lincoln Place’s long-term lease was purchased by Nightingale Properties for $80 million in December 2016.