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Wynwood Block

Wynwood Block

Miami is changing everywhere and fast. It is quite a challenge to keep up with the pace of these continuous changes. Some neighborhoods change from one month to the other. This is the case for Wynwood. If you avoid the sometimes asphyxiating crowds walking all over the area during each Second Saturday evening of the month, during the Wynwood Art Walks, you can enjoy the area for its bohemian style while seeing just a few people walking around. Places like Panther Coffee, Joey’s, Morgan’s as well as reputable contemporary art galleries such as David Castillo, Pan American Arts Projects, Dot 51, Alejandra Von Hartz and Waltman Ortega do attract art lovers, students, artists, those who got tired of South Beach and people increasingly working in the area.

Painted warehouse in Wynwood

Painted warehouse in Wynwood

However, the area is opening to other players than art galleries : a Samuel Adams beer brewery will be under construction soon and Wywnood Block, a corner block located on NW 2 Avenue, between 26th and 27th Streets, will feature a mix of retail tenants from restaurants to jewelry stores and possibly a book store, to open around March 2014. Art Galleries may see their attendance grow as the area is becoming more diverse and less “underground”. I had a conversation with the person in charge of looking for tenants for Wynwood Block and told him I was hoping he was not going to sign leases with big retailers…to have this area become like any mainstream area in any city. He said they were trying to focus on independent retailers and trying to maintain the artistic soul of Wynwood when picking their tenants. As the area is growing, the prices are growing too. Wywnood Block is offering a $40 NNN price per square foot per year, which is higher than what used to be paid for until just a few months ago. It is time to buy or lease there before as prices are going up fast. It is also a good time to sell, while there is a frantic energy floating around the neighborhood and still space to create great urban developments.

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