David Edelstein’s TriStar Capital and RAL Development, led by Robert Levine, have closed on the final piece of their 72,000 SF Wynwood assemblage where an office campus is planned. The development partnership paid $13 million for a 31,250 SF site at 2701 NW 5th Ave., financed by a $12.1 million mortgage provided by Comerica Bank. The property currently has a 20,239 SF building that will be demolished to make way for an office campus that includes the adjacent 39,732 SF lot at 2661 NW 5th Ave. which TriStar Capital acquired in 2018 for $18 million. Combined the assemblage totals 70,932 SF and cost $31 million.

The developers are planning to build a modern, technologically advanced office campus targeted at Miami’s fast growing tech sector. The campus will feature two Arquitectonica-designed mixed-use 8-story office towers with roughly 300,000 SF of Class A office space.

Images via TriStar Capital