Wix Actively Looking to Double Office Footprint in Miami
Wix, a leading web development company, is looking to expand its Miami footprint, Commercial Observer has learned.
The tech company is currently based at The Lincoln, a Class A, mixed-use building a block off South Beach’s famed Lincoln Road, occupying about 25,000 square feet.
Keen on expanding, Wix is now in the market for 50,000 to 60,000 square feet in total, according to sources familiar with the plans.
The web company is in “active lease negotiations” at both its current South Beach location and at River Landing, a massive, mixed-use complex along the Miami River near the Health District, the sources added. Wix would either renew and expand its lease at The Lincoln, or relocate to River Landing, one source said.
Negotiations are ongoing, and both deals could potentially fall apart, the sources warned. It’s also unclear whether the company is looking at any other buildings.
Wix’s main business allows users to easily create websites using ready-made templates. Headquartered in Tel Aviv, Israel, Wix counts more than 200 million registered users, and has 19 offices across the U.S. and around the world, the company says.
Bolstering its Miami credentials, the Israeli company purchased Miami-based startup SpeedETab, an ordering and payment technology provider for restaurants, in March.
River Landing Shops & Residences, one of the developments on Wix’s radar, opened last September and spans more than 2.2 million square feet, The Real Deal reported. Along with 135,000 square feet of office space, the property boasts 528 residential units and 345,000 square feet of retail with such tenants as supermarket Publix and fast-food chain Chick-fil-A. H&R Real Estate Investment Trust owns the property situated between NW 17th Avenue and State Road 836.
Located at 1691 Michigan Avenue, Wix’s current home, The Lincoln, holds 120,000 square feet of office space and was designed by high-profile design firm Arquitectonica.
Representatives for Wix did not immediately respond for comment. Colliers International broker Stephen Rutchik, who represents River Landing, declined to comment. Colliers’ Tyler de la Pena, who represents The Lincoln, also declined to comment.
The potential move comes as the Magic City tries to rebrand itself as a tech hub. Just last week, Miami hosted a huge Bitcoin conference that drew, by some estimates, 50,000 attendees.
Miami Mayor Francis Suarez is aggressively lobbying for Silicon Valley firms to relocate down south — and some have taken note. In March, prominent venture capital firms Founders Fund and Atomic signed 10-year leases at Related Group’s mixed-use development Wynwood Annex. Others — including tech giants Microsoft, Apple, and SoftBank — are said to be touring the market or in lease negotiations.