Crypto Firm Solana Opening Retail Spot at Miami’s Annex Wynwood

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The retail arm of blockchain firm Solana is opening a Miami outpost at the eight-story, three-year-old Annex Wynwood with a new 4,200-square-foot lease.

The Solana Embassy at 15 Northwest 24th Street, the brick-and-mortar presence of the aforementioned cryptocurrency, will be the firm’s second lounge and community center aimed at raising awareness for the brand, according to brokerage Retail by Mona.

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It will be the first of its kind  in South Florida. Visitors will be able to learn about Web3, cryptocurrency and NFTs amid a nightclub-like sound system, according to Retail by Mona.

“Our extensive knowledge of the Miami market and the locations that work best for different concepts and formats was essential in finding the right location for this innovative retail model,” Brandon Singer, CEO of Retail by MONA, said in a statement. “The Solana Embassy will revolutionize the crypto experience with a space where visitors can learn about the exciting world of blockchains while the street-level exposure will elevate the Solana brand with thousands of passers-by every day.”

Singer and colleagues Michael Cody and Kim Levandovsky advised Solana, though the deal itself was negotiated on behalf of the tenant by another team of brokers. The landlord, Brick & Timber Collective, was represented by Tony Arellano of DWNTWN Realty Advisors.

Retail by Mona did not disclose the tenant brokers’ names, the asking rent or  the length of the lease. DWNTWN Realty Advisors officials did not immediately respond to a request for comment.

Solana’s other physical location, called Solana Spaces, is located in The Shops at Hudson Yards near the corner of 30th Street and 10th Avenue in New York City. The space opened in late July, according to a press release from the company.

Solana Spaces operates independently of Solana Embassy, Solana Labs and Solana Foundation, according to a company spokesperson.

Mark Hallum can be reached at mhallum@commercialobserver.com.