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Wynwood Annex Sells for $44 Million to San Francisco-based Buyer

The Wynwood area continues to attract commercial real estate developers after the $44 million sale of Wynwood Annex was recently negotiated by DWNTWN Realty Advisors Co-Founders and Managing Partners Tony Arellano, Devlin Marinoff and David Lerner. Wynwood has transformed into one of the country’s most vibrant areas, with numerous companies signing leases to occupy office space, including Founders Fund, Atomic VC, GAC Financial, Ramp Financial, Open Stores, Blockchain.com and Schonfeld.

“The incredible demand for prime real estate in Miami is only getting stronger,” Marinoff says. “The pandemic accelerated the city’s evolution into a vibrant, full-service economy and a place where you can work year-round in a pro-business environment. Miami’s ‘secret’ is out and businesses and investors from high-tax states around the U.S. are taking notice.”

Brick & Timber Collective, based in San Francisco, purchased the property as its first foray into the Wynwood-Miami market. The DWNTWN group has led the efforts to transform 60,000 square feet of rentable office area into 100% occupancy, which Lerner says departs from the historical Miami office norms.

“Typically, we see relocations from within the city as the majority of tenants play musical chairs,” Lerner says. “In this cycle our firm took advantage of changing fundamentals and with our feet on the ground, led the charge outpacing competitive office towers in Miami, pushing Wynwood as the go-to creative office district.”

DWNTWN has more than $100 million in pending transactions expected to close in the first quarter of 2022, with a 12-month Gross Sales volume of a quarter billion dollars.

“We are honored and grateful to be a participant in Wynwood over the past 16 years,” Arellano says. “We are excited to see Wynwood become the go-to neighborhood for technology and modern finance. Wynwood Annex is the perfect fit for this San Francisco-based buyer’s debut investment in our market. DWNTWN is grateful to investors like Brick & Timber Collective for adding value to our market, community and the Greater DWNTWN Miami Area.”

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.