Commercial Real Estate
South Florida

Blink buys office condo on Miami Beach’s Lincoln Road for new HQ

10K sf office in the former Sony Music Building will serve as new headquarters

Blink’s Michael Farkas and Lionstone’s Diego Lowenstein with 605 Lincoln Road (Google Maps, iStock)

Blink’s Michael Farkas and Lionstone’s Diego Lowenstein with 605 Lincoln Road (Google Maps, iStock)

A publicly traded provider of electric vehicle charging equipment and services is trading one headquarters space on Miami Beach’s Lincoln Road for another.

Blink Charging Company bought an office condo at the seven-story 605 Lincoln Road and will move its corporate headquarters there, according to a press release. The company, led by Michael Farkas, has been based at 407 Lincoln Road.

The new headquarters will span more than 10,000 square feet in the former Sony Music Building, constructed in the 1930s. Blink has a staff of 37.

Blink paid $4 million for units 500, 510, 520, 530, 540, 550 and 560 at 605 Lincoln, according to records.

The seller is an affiliate of Bal Harbour-based developer Lionstone, led by Diego Lowenstein. Lionstone has managed the building since 2011 and invested more than $1 million in upgrades.

Lionstone paid $3.3 million for the units in 2005, according to records.

Open office space at the building is available for at least $44 a square foot, according to an online listing.

The Mendel Fellig Group of Compass in Florida represented the buyer and seller in the deal, according to the release.

In November, Lionstone and two other families that own Ritz-Carlton hotels in South Beach and Bal Harbour, as well as the Sagamore Hotel in Miami Beach, merged ownership of their properties. Earlier in 2020, a joint venture between Lionstone and Virgin landed a $37 million refinance package on the 250-key Virgin Hotel Chicago in the Loop.

Lincoln Road has seen ups and downs during the pandemic. While Amazon announced a store at 700 Lincoln Road last year, tenants like Books & Books, Steve Madden and WeWork have struggled and left their spaces on the iconic street.

In November, the city of Miami Beach asked developers to submit letters of intent to turn parking lots near Lincoln Road into Class A office space.

COMPANIES AND PEOPLE

Tags
Commercial Real Estate
South Florida

Blink buys office condo on Miami Beach’s Lincoln Road for new HQ

10K sf office in the former Sony Music Building will serve as new headquarters

Blink’s Michael Farkas and Lionstone’s Diego Lowenstein with 605 Lincoln Road (Google Maps, iStock)

Blink’s Michael Farkas and Lionstone’s Diego Lowenstein with 605 Lincoln Road (Google Maps, iStock)

A publicly traded provider of electric vehicle charging equipment and services is trading one headquarters space on Miami Beach’s Lincoln Road for another.

Blink Charging Company bought an office condo at the seven-story 605 Lincoln Road and will move its corporate headquarters there, according to a press release. The company, led by Michael Farkas, has been based at 407 Lincoln Road.

The new headquarters will span more than 10,000 square feet in the former Sony Music Building, constructed in the 1930s. Blink has a staff of 37.

Blink paid $4 million for units 500, 510, 520, 530, 540, 550 and 560 at 605 Lincoln, according to records.

The seller is an affiliate of Bal Harbour-based developer Lionstone, led by Diego Lowenstein. Lionstone has managed the building since 2011 and invested more than $1 million in upgrades.

Lionstone paid $3.3 million for the units in 2005, according to records.

Open office space at the building is available for at least $44 a square foot, according to an online listing.

The Mendel Fellig Group of Compass in Florida represented the buyer and seller in the deal, according to the release.

In November, Lionstone and two other families that own Ritz-Carlton hotels in South Beach and Bal Harbour, as well as the Sagamore Hotel in Miami Beach, merged ownership of their properties. Earlier in 2020, a joint venture between Lionstone and Virgin landed a $37 million refinance package on the 250-key Virgin Hotel Chicago in the Loop.

Lincoln Road has seen ups and downs during the pandemic. While Amazon announced a store at 700 Lincoln Road last year, tenants like Books & Books, Steve Madden and WeWork have struggled and left their spaces on the iconic street.

In November, the city of Miami Beach asked developers to submit letters of intent to turn parking lots near Lincoln Road into Class A office space.

COMPANIES AND PEOPLE

Tags