CIM Group Sells Strata Wynwood, Mixed-Use Development Spanning One City Block in Miami’s Wynwood District
MIAMI--CIM Group announced today that it has sold Strata Wynwood, a recently completed mixed-use development with 257 apartment residences, 60,300 square feet of creative office space, 27,040 square feet of retail, and 474 parking spaces in the Wynwood Arts District of Miami, FL.
Spanning a full city block along N. Miami Ave at NE 22nd and NE 23rd Streets, Strata Wynwood is designed with street-level retail, topped by three floors of office space and above, two eight-story apartment towers. The contemporary apartments are offered in a variety of sizes and floor plans ranging from studios to three-bedroom units. Residents have access to an array of amenities including a 24-hour fitness center, swimming pool with cabanas, lounge areas, grilling stations, open air theater, music room, and co-working spaces. The apartments, office, and retail feature floor-to-ceiling windows that provide an abundance of natural light.
“Strata Wynwood exemplifies the quality and creativity of CIM Group’s innovative, mixed-use developments. Utilizing our team’s experience in office, retail and residential, we were able to seamlessly blend these elements into an exceptionally functional and architecturally appealing property that enhances the dynamic Wynwood District,” said Shaul Kuba, Co-Founder and Principal, CIM Group.
The Wynwood Arts District has emerged as a rapidly developing technology and venture capital hub as well as a flourishing center for art, fashion, and creative enterprises. Strata Wynwood is prominently situated on one of Miami’s busiest north-south corridors. The location provides convenient access to I-195 and I-395 via North Miami Avenue and is within minutes to the Design District, Downtown Miami, Midtown, and Edgewater.
CIM has been involved in the greater Miami region for more than 10 years and brings its proven real estate development and operational expertise to delivering this significant mixed-use project in Wynwood. CIM co-developed Strata Wynwood with One Real Estate Investment. CIM is also an owner and co-developer of part of the master planned 27-acre mixed-use Miami Worldcenter project.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.