Miami’s Magic City Innovation District Announces First Commercial Tenants; Diana Lowenstein Gallery highlights five new businesses that have moved into Little Haiti neighborhood set for revitalization and job growth

Diana Lowenstein

 MIAMI, FL. – As the Magic City Innovation District (MCID) awaits its final City of Miami approval to become a Special Area Plan (SAP), the development team is announcing the first group of new tenants that are moving into Little Haiti.

 Five businesses have signed long-term leases totaling 18,650 square feet of commercial space who will also bring hundreds of new jobs to the neighborhood.

“We want to welcome our first tenants, a group who fully understands and appreciates our vision for the neighborhood,” said Neil Fairman, Managing Partner, MCID.

Neil Fairman

 “They exemplify the types of businesses we want to attract—ranging from a local technology company to a well-known art gallery to a firm focused on sustainability practices.”

Approximately $12 million has been invested in rehabbing existing buildings so far.

Diana Lowenstein Gallery is moving from Wynwood to 320 NE 61st St. in the MCID. The gallery’s selections include paintings, photography, sculptures, video, installations and specific commission works on site from established and up-and-coming artists.

 “I recently noticed the local art scene was starting to migrate to the Little Haiti neighborhood,” said Diana Lowenstein. “The Magic City Innovation District provides me an opportunity to be on the forefront of this emerging trend and create a new destination for art lovers from around the globe.”

Tony Cho

 On March 29, 2019, the Miami City Commission with a 4-0 vote gave initial approval to the MCID’s plan to revitalize nearly 18 acres of underutilized industrial and vacant property located in the Little Haiti neighborhood, while preserving the community's authentic cultural identity. 

“We are getting great traction with interesting tenants and businesses excited to be part of our unique district,” said Tony Cho, President of METRO 1 and co-founding partner of the MCID, who is spearheading leasing efforts.

 “Almost all of our existing adaptive reuse buildings are complete and we are actively seeking food & beverage and innovative tenants to join our growing community. In the near term, we also plan on making the area a destination by activating some open spaces as pop-up entertainment venues.”

 CONTACTS:

Todd Templin, BoardroomPR

954-370-8999

 ttemplin@boardroompr.com

 For leasing information, please contact METRO 1 at www.metro1.com.  

 

HFF closes $10 million sale of medical office building in Davidson, NC

Zack Drozda

CHARLOTTE, NC – HFF announces that it has closed the $10.18 million sale of the 35,157-square-foot Davidson Medical Office Building in the Charlotte-area community of Davidson, North Carolina.

 HFF marketed the property on behalf of the seller, Canvass Capital, a real estate private equity firm, and procured the buyer.

 The Davidson Medical Office Building is positioned on 1.8 acres at 705 Griffith Street close to downtown Davidson, which is approximately 20 miles north of Uptown Charlotte. 

Evan Kovac

 The property offers convenient access to Interstate 77 and is within walking distance of numerous retail amenities at Davidson Commons Shopping Center as well as nearby multifamily and senior living communities. 

Completed in 2001, Davidson Medical Office Building is 95% leased to medical tenants, including Atrium Health.

 The HFF investment advisory team representing the seller comprises members of HFF’s national medical office capital markets team, including director Zack Drozda, along with managing directors Evan Kovac and Ben Appel and director Andrew Milne.

 “Canvass Capital did a great job stabilizing the asset, creating an excellent location for medical office tenants in the Lake Norman area,” stated Drozda.

 Holliday GP Corp. ("HFF") is a North Carolina licensed real estate broker.

Ben Appel

 About Canvass Capital LLC

Canvass Capital LLC (“Canvass”) is a real estate private equity firm focused on generating attractive risk-adjusted returns for its investors in individual assets and platform investments across cycles and over the long term. 

Canvass seeks to invest in real estate-enabled operating businesses where value can be created through active asset management and by maximizing efficiencies in the operating business component.

Canvass’ portfolio includes medical office, self-storage, mixed-use and industrial amongst other alternative real-estate investment types. In addition, Canvass provides preferred equity on third-party projects.

Andrew Milne

For more information on Canvass Capital LLC, please visit: www.canvasscap.com.

 About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). 

 For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

CONTACTS:

ZACK DROZDA

NC Lic. #248777

HFF Director
(704) 526-2800

zdrozda@hfflp.com

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
krmurphy@hfflp.com