Luxury brand influx boosts Wynwood commercial rents

Written by Abraham Galvan on October 31, 2023

Even though the commercial real estate market has stabilized in Wynwood, rents have remained high due to new luxury brands moving into the area and multi-use developments, according to local real estate experts.

With the help of Miami Design District’s development advances setting the tone in the area and attracting luxury brand giants, like Louis Vuitton, rental rates are around $65 per square foot for office space and upwards to $100 per square foot for commercial and retail spaces, according to Matt Rotolante, president of Lee & Associates South Florida.

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