L&L Holding Company and Oak Row Equities, along with project partner Shorenstein Properties and co-investor Claure Group, today announced the groundbreaking of The Wynwood Plaza, a 1-million-square-foot mixed-use campus at 95 NW 29th Street in Miami’s famed Wynwood Arts District. This milestone comes on the heels of securing $215 million in construction financing from Bank OZK for this dynamic project, designed by renowned architecture firm Gensler.
The Wynwood Plaza will encompass a residential building featuring 509 luxury rental apartments, an array of indoor and outdoor dining and shopping options, as well as a highly-amenitized office tower. The development will be defined by a half-acre, lushly landscaped public plaza that will be the largest in the Wynwood Arts District and one of the largest in all of Miami. Designed by James Corner Field Operations, the landscape architecture and urban design practice behind Miami’s Underline and New York City’s High Line, the most iconic public-facing feature will be a pedestrian paseo adorned with large palm trees and a unique variety of local vegetation.
Two floors of the 12-story office tower are pre-leased. Prominent investment firm Claure Group, led by Marcelo Claure, will establish its headquarters in 25,400 square feet across the entire eighth floor. Weitz & Luxenberg, an acclaimed nationwide law firm, will open its first Miami office in 18,000 square feet across the second floor.
“Recognizing the need to create something of lasting value to Miami, we assembled an all-star team capable of cultivating an environment that is every bit as unique, artistic and sophisticated as the colorful neighborhood that surrounds it,” said David Levinson and Robert Lapidus of L&L Holding Company. “We are thrilled to share this important moment with our partners Oak Row, Shorenstein, and Claure Group, as well as all of the local stakeholders who made this milestone possible.”
“The groundbreaking at The Wynwood Plaza is a defining milestone for our firm and our partners. This historic project will further enhance the globally-recognized Wynwood Arts District and serve as a bold example of our commitment to placemaking for the local community,” said Erik Rutter and David Weitz, Managing Partners at Oak Row Equities.
“With expectations from commercial tenants and residents alike higher than ever for the places they choose to live and work, we are confident The Wynwood Plaza will stand out and raise the bar,” said Matt Knisely, Managing Director at Shorenstein Properties. “At Shorenstein, we are focused on investing in best-in-class and highly differentiated projects in compelling markets, and this partnership exemplifies our proven approach.”
The Wynwood Plaza’s Class AAA office tower will encompass 266,000 square feet with efficient floor plates that create light-filled workspaces and private terraces on each floor. Tenants will have access to dedicated indoor and outdoor amenities, including a fitness club, cafe and bar lounge, conference and collaboration spaces, and expansive rooftop. The tower will also feature best-in-class air filtration, touchless entry, and elevator systems.
Luxury rental apartments will feature floor-to-ceiling windows, state-of-the-art appliances, exceptional finishes, and flexible layouts. An expansive amenity package will feature four activated rooftops with a sports court, two outdoor pools with showers, a sauna, hot tub and cold plunge pool, and a glass atrium with co-working spaces, private phone rooms, and a game lounge. In addition, residents will have access to a modern fitness center with state-of-the-art equipment and dedicated areas for yoga and other exercise classes.
The Wynwood Plaza will also include 32,000 square feet of retail, including 6,600 square feet of outdoor dining. An eclectic mix of lifestyle boutiques, curated storefronts, convenience locations, and fast casual spots are envisioned for the campus.
Situated on a main pedestrian thoroughfare, the airy, stylish spaces will feature full glass storefronts with the opportunity for impactful exterior signage. To showcase and elevate the creativity of the surrounding community, L&L Holding and Oak Row Equities will collaborate with local artists to include curated works and installations throughout for residents and the community to enjoy.
With construction now underway, completion is anticipated in 2025.
About L&L Holding Company
L&L Holding Company is a privately held, vertically-integrated real estate company founded in 2000 by David Levinson and Robert Lapidus that has acquired or developed over 10 million square feet of prime commercial and residential space in New York and Florida. The company’s current portfolio includes such current and future icons as 425 Park Avenue, 390 Madison Avenue, Terminal Warehouse, TSX Broadway, The Wynwood Plaza, and Central Gardens Grand. For more information, visit www.ll-holding.com
About Oak Row Equities
Oak Row Equities is a vertically integrated real estate private equity and development company. Founded in 2018 by Erik Rutter and David Weitz with offices in New York City and Miami, Oak Row Equities has expertise in acquisitions, development, architecture, construction, asset management, leasing, and accounting. Since its inception, Oak Row Equities has acquired more than one billion dollars of assets and is under development on more than three million square feet of class-AAA real estate, including over 1,600 luxury multifamily units and approximately 500,000 sf of office. For more information, visit www.oakrowequities.com.
About Claure Group
Claure Group is a multi-billion-dollar global investment firm spanning multiple high growth sectors including tech, telecom, media, real estate, sports and others. A native of Miami, Claure founded his first business Brightstar in Miami in 1997 and grew it to become the world’s largest global wireless distribution and services company with revenues exceeding $10 billion. During his tenure as CEO of SoftBank Group International, Claure relocated the firms headquarters from Tokyo to Miami in 2019 to help the city increase its presence as a global tech hub through the launch of the $8 billion SoftBank Latin America Fund and $100 million Opportunity Fund.
About Shorenstein Properties LLC
Founded in 1960, Shorenstein Properties LLC is a privately-owned, real estate firm that owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Since 1992, Shorenstein has sponsored thirteen closed-end investment funds with total equity commitments of $9.5 billion, of which Shorenstein committed $798.5 million. The firm uses its integrated investment and operating capabilities to take advantage of opportunities that, at the particular time in the investment cycle, offer the most attractive returns. Investments have included ground-up developments, asset repositioning and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. More information is available at www.shorenstein.com.
