Interactive Golf Center Drive Shack Signs Wynwood Lease
By Julia Echikson June 17, 2021 2:01 pm
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Florida’s favorite sport is coming to Wynwood, one of Miami’s trendiest neighborhoods.
Drive Shack, a golf-focused entertainment company, signed a 10-lease for 17,600 square feet at Thor Equities’ Wynwood Walk, the landlord announced.
The golf company operates driving ranges decked out with auto-scoring technology to create interactive games. At its Wynwood location, Drive Shack will open its newest venture, the Puttery, which will include putting greens, bars and lounges.
While the deal closed on Wednesday, Puttery likely won’t open before the first quarter of 2022.
Michael Sullivan of Koniver Stern Group, along with RUE’s Jeremy Zidell and Tripp Russ, represented the tenant. Thor’s George Stanchfield represented the firm in-house.
Situated at 245 NW 28th Street, the retail building counts Italian restaurant Bottled Blonde and fashion retailer Yoyoso as tenants.
While a Thor spokesperson declined to divulge Puttery’s asking rents, Bottled Blonde’s rate stands at $100 per square foot, as Commercial Observer previously reported.
Wynwood’s retail rates are some of the highest in the Magic City, averaging $63.44 per square foot in the first quarter of 2021, according to Colliers International data.
Wynwood has become one of Miami’s most sought-after neighborhoods. Known for its colorful murals, the district has welcomed a slew of high-profile, New York-based restaurants, such as Prince Street Pizza and soon-to-be Pastis. Earlier this month, the neighborhood hosted the Bitcoin 2021 conference, one of the largest events in the U.S. since the start of the COVID-19 pandemic.
“Our Puttery venue was born to exist within a thriving entertainment district like this,” said Drive Shack President and CEO Hana Khouri in prepared remarks.
Drive Shack has outposts in Virginia, North Carolina and Florida, and plans to open Puttery locations in Texas, North Carolina and Washington, D.C.
