A coworking franchise will soon move into a Northeast Miami-Dade office building owned by real estate investor Grant Cardone.
Venture X and a franchiser have secured the second floor of the 11-story 10X Centre at 18851 N.E. 29 Ave. in Aventura, said Barrett Wolf, CEO and founder of Wolf Co Real Estate Brokerage Investments. The 19,127-square-foot office is now being built and should be ready for occupancy by third or fourth quarter of 2025, Wolf added.
Wolf and Kimberly Von of Wolf Co Real Estate represented Cardone’s 10X Centre LLC in the lease negotiations. Venture X represented itself, Wolf said.
Several coworking companies have expanded their locations in South Florida since the pandemic to cater to companies seeking more flexible lease terms than what typical landlords provide. To cut back on commute times for their members, cowork operators have opened new branches in suburban areas outside of the downtown areas of Miami, Fort Lauderdale, and West Palm Beach where many office employees live. As a result, there are 144 coworking locations in suburban South Florida as of May, a 9% year-over-year increase, a report from Coworking Cafe stated.
United Franchise Group’s coworking division, Vast Coworking Group, partners with franchisers to operate more than 80 locations in six countries under the Venture X, Office Evolution, and Intelligent Office brands. Vast has also opened new locations in the tri-county area in both downtown and suburban areas. For example, in February Venture X and an unnamed franchiser secured 20,253 square feet of office space in the historic Security Building at 117 N.E. 1st Ave. in downtown Miami.
Vast Coworking or United Franchise Group did not return requests for comment. However, Ryan Tseko, executive vice president of Cardone Capital, said Venture X should do well in Aventura.
“There is a lot of people in this market who are looking for coworking space,” Tseko said.
Demand for regular office space is strong in northeast Miami-Dade as well, Tseko said, which was why Cardone acquired the office building.
“This is a real gem and there are a lot of business owners in this area who don’t want an office in Boca Raton or Fort Lauderdale,” Tseko said. “They live in Sunny Isles and Aventura and they want their office within five or ten minutes from their homes so they can live, work and play here.”
Previously known as Aventura Harbour Center, Cardone’s 10X Centre acquired the 21-year-old office building for $91 million with the help of crowdfunding in June 2021.
In the past 12 months, Cardone has “cleaned house” at 10X and brought in a new team that is “bringing this building back to what it is supposed to be,” Wolf said. Toward that end, Cardone renovated the office’s common areas and built ready-to-move in suite offices between 1,700 and 3,100 square feet in size. Valet parking, on-site car wash services, banking services, and other amenities are offered at the building, Wolf added.
Entrepreneur Virgilio Namnum has also filed a site plan to open padel courts on the top floor of the 10X building. Those plans are still being evaluated by the city of Aventura.