Fintech Startup Nirvana Technology Signs Lease in Wynwood

Asking rent for the office at 120 NE 27th Street was $38 per square foot, landlord Bill Rammos told Commercial Observer. The deal closed last month, and Nirvana is set to take occupancy this coming fall.

Other tenants of the two-story building include construction firms, Brodson and Plaza, and another California transplant, Crexi, a commercial real estate tech company.

“Millennials value the mix-use — where you have office spaces, good restaurants, good entertainment at night, and good housing. That’s all coming together in Wynwood,” said Rammos. These amenities help lure future tech employees, he added. 

The digital bank startup plans to hire 50 employees based in Miami by the end of the year, and 200 by 2022, according to a statement from Nirvana. The company aims to simplify the finances of everyday consumers.

“We’re bringing the fire of Silicon Valley — innovation, ambition and mission — to the new Silicon Beach,” Harris said in prepared remarks.

The executive has a long and impressive tech resume, which includes stints as serving the CEO of fintech giants PayPal and Intuit, and as a board member of web hosting company GoDaddy.

Since the pandemic hit, Miami has attracted high-profile companies, thanks to its pro-business mayor and the state’s low taxes. 

New-to-market tech tenants have settled in Wynwood, a trendy neighborhood famous for its eclectic murals. Back in March, heavyweight venture capital firms Founders Fund and Atomic inked 10 leases at the Wynwood Annex, a 60,000-square-foot office complex. Apple is also said to be scouting offices in the neighborhood. 

DWNTWN Realty Advisors’ Tony Arellano represented the landlord.