Spaces continues its Florida expansion by opening a new location at 1111 Lincoln Road in Miami Beach. CBRE Global Investors inked a 51,064-square-foot lease with the coworking firm, which currently has two locations in the state.
The former Suntrust Bank Building underwent significant renovations in 2010, which resulted in 94,488 square feet of creative office and 51,839 square feet of Class A retail and restaurant. Herzog & de Meuron designed the project and added multiple extensions, including a state-of-the-art parking garage and a two-story, street-level construction. Spaces’ lease brings the building’s occupancy rate to 95 percent. Other notable tenants include Juvia, Ted Baker, Osklen and Shake Shack and Douglas Elliman.
Located on the corner of Alton and Lincoln roads, a vibrant shopping and dining promenade, the property is within walking distance of restaurants, retailers and entertainment options. The street will undergo a $43 million renovation, while the recently completed Miami Beach Convention Center will get a $615 million makeover.
CBRE’s Diana Parker and Kevin Gonzalez represented the landlord in the lease transaction. JLL Executive Vice President Gavin Macphail acted on behalf of the tenant.