23,500 SF LEASE MARKS MAJOR NEW-TO-MARKET EXPANSION FOR CRE FINANCE FIRM
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Levy Public Relations
The Offices at THE WELL Bay Harbor Islands, the newest Class A office development in Miami’s Bay Harbor Islands, is set to welcome its first tenant as New York-based commercial real estate finance firm Dwight Capital prepares to expand its presence in South Florida.
Dwight Capital’s new office will occupy approximately 23,429 square feet located in THE WELL’s penthouse floor.
THE WELL Bay Harbor Islands, a mixed-use development comprising of 95,819 square feet of office space located at 1177 Kane Concourse, is now under construction. While set to open in 2025, the building is already 25% pre-leased. The project is a collaboration between South Florida-based development firm Terra and THE WELL, a company offering a one-stop shop for wellness focusing on integrative care for the mind, body and spirit with locations in New York, Connecticut, Costa Rica and Cabo.
Blanca Commercial Real Estate, exclusive leasing agent for The Offices at THE WELL Bay Harbor Islands, represented the developer in the transaction. The leasing team included Tere Blanca, Founder, Chairman, and CEO; Danet Linares, Executive Vice Chairman; and Nicole Kaiser, Associate Vice President.
Founded by Adam and Josh Sasouness in 2014, Dwight Capital has solidified its position as one of the largest commercial real estate finance companies in the US, boasting a loan services portfolio exceeding $12 billion. The company offers a range of services, including commercial lending across various loan types such as balance sheet bridge and new construction loans, FHA/HUD insured loans, as well as mezzanine financing and preferred equity.
Dwight Capital has had a presence in Florida since 2015, when they opened an office in St. Petersburg, FL. Dwight’s co-CEO Adam Sasouness moved to South Florida in 2022 with the strategic goal of expanding Dwight Capital’s presence in the tri-county area. In 2023, they established another office in Sunny Isles, FL and subsequently officially changed their headquarters from New York City to Sunny Isles earlier this year. The move to THE WELL underscores Dwight Capital’s dedication to securing long-term luxury office space, signaling a formal commitment to South Florida.
“As a company, we aim to create a working environment and office setting that fosters collaboration, ignites creativity, and attracts top-tier talent,” said Sasouness. “With its unique location, beautiful design, luxurious amenities, and unwavering commitment to sustainability, THE WELL embodies the ideal setting for our team’s success in the heart of South Florida.”
This first Miami location for THE WELL emerges amidst a surge of new businesses and residents relocating to South Florida, highlighting Terra’s keen understanding of an escalating demand for premium office spaces. This project represents a pivotal advancement for Bay Harbor Islands, breaking a long-standing absence of new office developments. Spanning 95,819 square feet, The Offices at THE WELL Bay Harbor Islands encompasses office, retail, and rooftop spaces. This cutting-edge building represents the elevated commercial developments synonymous with Terra.
THE WELL introduces a range of amenities to cater to the evolving needs of businesses, including a social lobby featuring a coffee shop and juice bar, a verdant outdoor courtyard, a ground-floor restaurant, and THE WELL Club, a state-of-the-art wellness and fitness center. THE WELL Club will offer a wide range of thermal experiences to rewind, reset and recharge, including Miami’s first caldarium, a saunarium and a halotherapy steam room. Eastern healing and cutting-edge science treatments, such as IV vitamin therapy, bodywork services, acupuncture, vibrational energy healing and facials will also be available in the facility. The Fitness Space and Mindful Movement Studio at THE WELL Club will provide a robust calendar of classes, including intensive workouts and meditation sessions.
THE WELL Bay Harbor Islands distinguishes itself as a Florida Green Building Design Certified property, demonstrating a commitment to sustainability. It will incorporate state-of-the-art air purification and water filtration systems to ensure a healthy and eco-friendly workspace.
“Dwight Capital’s decision to lease at THE WELL is a testament to the alignment of THE WELL’s offerings with the evolving needs of office tenants”, stated Tere Blanca, Founder, Chairman, and CEO of Blanca Commercial Real Estate. “THE WELL goes beyond traditional office spaces, delivering on key elements such as perfectly curated outdoor spaces, with health and wellness top of mind and networking opportunities. Its walkable location, transit access, collaborative spaces, and emphasis on natural light and sustainability make THE WELL the preferred choice for tenants seeking a comprehensive and enriching work environment.”
