The Fifth Miami Beach Sets a New Standard in Luxury Commercial Real Estate
We are thrilled to share some groundbreaking news from the world of real estate development. Sumaida + Khurana and Bizzi + Bilgili, two of the most esteemed real estate development firms on the global stage, have recently announced a significant financial milestone. They have successfully secured $47.25 million in construction financing from Cain International for an exciting new project: The Fifth Miami Beach.
This state-of-the-art Class A+ office building, located at 950 5th Street, is making history as the first commercial edifice to be erected in Miami’s South of Fifth neighborhood in two decades. The design mastermind behind this architectural marvel is none other than Alberto Campo Baeza, a name synonymous with innovation and excellence in architecture. Baeza, recently crowned with Spain’s National Prize for Architecture, has chosen The Fifth Miami Beach as his maiden commercial office project in the United States.
The Fifth Miami Beach isn’t just another addition to the skyline. It's a redefinition of the modern office experience, blending striking design with a strong emphasis on health and wellness. The project, which broke ground recently, is slated for completion in 2025. Impressively, it has already pre-leased nearly 20% of its space.
Amit Khurana, Founding Partner of Sumaida + Khurana, describes The Fifth Miami Beach as a blend of "timeless design, quality of craftsmanship, and curated amenities," all aimed at setting a new benchmark in commercial development. Meanwhile, Alessandro Pallaoro of Bizzi & Partners highlights Miami's growing status as a hub for influential companies and the significance of this project in reinforcing the city's position in the business world.
Sumaida + Khurana and Bizzi+Bilgili are powerhouses in their own right. The former is steered by Saif Sumaida and Amit Khurana, while the latter represents a joint venture between Bizzi & Partners and Bilgili’s private equity real estate arm, BLG Capital.
Global commercial real estate titan, Cushman & Wakefield, is at the forefront of office leasing efforts for this project, with Avenue Real Estate Partners handling the retail leasing. The building's strategic location at the entrance to Miami Beach, at the corner of Michigan and Fifth Street, positions it perfectly within the rapidly evolving South of Fifth neighborhood, a hotspot for upscale dining, hotels, and residences.
The design team for The Fifth Miami Beach reads like a who’s who of the architectural world. Alberto Campo Baeza, Gabellini Sheppard Associates, Cube 3, and Miami-based Urban Robot Associates come together to create a building that is a visual feast. The building’s design is a stunning jewel box shape, characterized by a façade of white marble, transparent glass, and architectural concrete. It boasts ceiling heights of 14 feet and incorporates biophilic design elements like landscaped outdoor terraces and a triple-height atrium.
The crowning glory is the rooftop space, offering panoramic views of the ocean and Miami Beach. The building is not just about aesthetics; it is also designed to meet LEED certification standards, emphasizing sustainability.
