Morabito Properties recently paid $14.6 million for a 14,000-square-foot building that the company will convert to nearly 50,000 square feet of creative office space as part of Phase II of its Wyncatcher office development. The project is slated for completion in the second quarter of 2026.

Phase I, which is 38,400 square feet and was completed in Q4 2023, is entirely leased to Knotel, a flexible workspace provider. It features a two-story industrial-style building with restaurant space and a rooftop terrace. Phase ll will include a three-story office with an open-air covered car park and a private garden. Located at 2143 Northwest 1 Avenue and 2150 Northwest Miami Court, the project will be designed by Arquitectónica.

BridgeInvest provided a floating-rate loan of $35 million, which will pay off the existing construction loan on Phase I and fund the construction of Phase II of Wyncatcher. 

Berkadia’s Scott Wadler and Michael Basinski Miami secured the financing on behalf of Morabito Properties.

The post Morabito to Expand Wynwood Office Venture appeared first on Connect CRE.