Publishing Company Inks 10,000 SF Penthouse Lease At 1688 Meridian

Apr 11, 2017 No Comments by

Cushman & Wakefield announced that it has negotiated a long-term, ±10,000-square-foot office relocation lease with GDS Publishing, Inc. at 1688 Meridian Avenue, a ±90,000 square-foot office building in the heart of South Beach.

Managing Director Gordon Messinger represented Connecticut-based owner Ivy Realty in the lease negotiations. Ivy Realty acquired 1688 Meridian Avenue and 1674 Meridian Avenue in July 2016. The two buildings total ±120,000 square feet.

Bristol, UK-based GDS Publishing is a global events, research and technology services company. The firm is relocating from 1691 Michigan Avenue and will occupy the entire penthouse floor of 1688 Meridian. GDS Publishing expects to move over 40 employees into the new space in the third quarter.

CREC’s Steven Hurwitz represented the tenant in the lease negotiations.

Ivy Realty has initiated a significant capital improvement program at both buildings that will include the modernization of lobbies, common area corridors and bathrooms as well as the replacement of 1674 Meridian Avenue’s existing façade with a highly efficient glass curtainwall system that will introduce greater light into the tenant spaces. Award-winning Miami-based architectural firm Shulman + Associates has been retained to design these improvements.

Ivy Realty also will renovate elevators, update HVAC systems and replace the roofs of both buildings.

 

“GDS Publishing’s move to 1688 Meridian provided them with the opportunity to be a full-floor tenant in an amazing building with some of the best views in Miami Beach,” said Messinger. “Ivy Realty’s strong institutional ownership and capital improvement programs were deciding factors as well.”

1674 and 1688 Meridian Avenue are located at the corner of Meridian Avenue and 17th Street.

Major tenants in the buildings include Regus, which recently leased two full floors in 1688 Meridian; international modeling agency Next Model Management and global advertising agency J. Walter Thompson Worldwide.

 

 

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