Wynwood is an eclectic district in the urban core of Miami, Florida. It is home to art galleries, retail stores, antique shops, bars, artisanal eateries and one of the largest open-air street-art installations in the world.
The Wynwood Business Imprevement District, Retail market comprises 13.4% of the existing inventory in the Miami DDA (Downtown Development Authority) market area, and 11.6% of the supply under construction. It contains a total of close to 3,900,000 square feet of improved building area, consisting of retail, apartment, office, industrial, and flex space, approximately half of which can be still be categorized as industrial space. Much of the area’s older industrial and flex space, remnants of the areas prior use as fashion and garment district, has been repurposed for retail and art gallery space which now accounts for approximately 30% of the improved buildings in Wynwood. In next few years the total supply of buildings in the BID area is projected to increase by 35% to around 5.3 million square feet as 1.4 million square feet under construction is completed.
The Wynwood BID multifamily market comprises 5.5% of the existing inventory across the Miami DDA, Midtown and Edgewater market areas, and the number of units under construction account for 8.5% of the same area.
The Wynwood BID Office market comprises 1.25% of the existing inventory across theMiami DDA, Midtown and Edgewater market areas, though a significantly larger amount of office space is currently under construction in Wynwood.
The Wynwood BID retail market comprises 13.4% of the existing inventory across the Miami DDA, Midtown and Edgewater market areas, and 11.6% of the retail supply under construction. Retail rents in Wynwood are amongst the highest in Miami.
Office In Construction
Retail in Construction
New Apartment Units Planned