More office space is on the way to meet growing demand in Miami with the $300 million development of Floor 42a 500,000 square foot office and retail building in the Design District.
Based in New York Helm Actionsaffiliate JEMB Real Estateorder COOKFOX Architects to design the five-story building with floor plates ranging from 70,000 to 86,000 square feet. The building will also include up to 80,000 square feet of outdoor space that will bring fresh air to all levels of Parterre 42, developers say.
“We worked with COOKFOX to transform the typical office building inside out, incorporating huge amounts of functional outdoor space on each floor so that the occupants of Parterre 42 feel like they are truly working in nature. “, Ayal Horovitsdirector of Helm Equities, said in a statement.
The design of the 320,000 square feet of office space deviates from the steel and glass pillars expected of office buildings, the architects say, and will soothe post-COVID-era worker sensitivities.
The building will infuse the Design District, best known as a chic arts and retail destination, with much-needed office space. In March, Craig Robinthe original developer of Design District, announced plans to develop the area first new class A office building, with 180,000 square feet of office space. A second project from the developer led by Robins Dacrawhich owns most of the commercial properties in the neighborhood, would add a 20-story office building and is the subject of a zoning battle.
For its project, Helm Equities plans to develop the entire 2-acre block between Northeast 42nd and 43rd Streets between Northeast Second and Fourth Avenues. Helm Equities purchased the site from 4201 NE Second Avenue in 2014 for $12.5 million, Helm Equities confirmed.
Some of the amenities that will be available to tenants include an indoor-outdoor café, multi-story landscaped gardens, rooftop event space, fitness center, bicycle and scooter storage, and valet parking.
Parterre 42 will be LEED Gold and WELL Gold certified with sliding glass doors to connect interior spaces to terraces that will be equal in size to what will be available inside, according to the developers.
The office space will be marketed by a CBRE equipped with Paul Amrich, Neil King, Gordon Messinger and Cameron Talon.
The news is coming that the search for the second trimester of Necklaces shows that demand for office space in Miami-Dade County has kept pace with development in the region, posting an 11% vacancy rate, similar to the first half of 2021 when it was around 11 .3%.
Commercial tenants will be surrounded by luxury brands and showrooms such as Louis Vuitton, Dior, Gucci, Design at your fingertips, Aqueduct, B&B Italy, jonathan adler and The shadow store.
Mark Hallum can be reached at [email protected]