Former quarterback-turned-businessman Tom Brady will move his family office’s headquarters to The Well health-focused development in Bay Harbor Islands.
TEB Capital Management leased 8,400 square feet at the mixed-use project that’s under construction at 1177 Kane Concourse, according to a news release.
The deal comes as South Florida has earned a reputation as a magnet for companies over the past four years. Across the tri-county region, high-net-worth individuals and families have both opened their businesses’ headquarters and scooped up mansions. Brady, a seven-time Super Bowl champion, is building a two-story estate in the exclusive Indian Creek Village with a separate gym, sports court, outdoor kitchen and other amenities.
Blanca Commercial Real Estate, led by Tere Blanca, represented Terra in the Brady deal, as the brokerage is leasing The Well. Kevin Gonzalez and Stephen Rutchik of Colliers, as well as Brandon Charnas of Current Real Estate Advisors, represented Tom Brady Enterprises.
David Martin’s Coconut Grove-based Terra is developing The Well. It will have a 113,000-square-foot, five-story building with four levels of offices, as well as retail, lobby and a rooftop with meeting space and fitness classes. The project also will have an eight-story condo building with 66 units and more than 22,000 square feet of amenities.
The Well club, which has outposts in New York and elsewhere, will manage the Bay Harbor Island development, which will be the first The Well-branded office and condo project, according to the release. Its health-focused offerings include acupuncture and vitamin B12 drips, according to Bloomberg.
The project is expected to be completed next year.
So far its office space is 35 percent preleased. Commercial real estate financier Dwight Capital will move its headquarters to a 23,000-square-foot space within the property. The firm first established a South Florida outpost last year at Milton Tower at 16690 Collins Avenue in Sunny Isles Beach, and it officially moved its headquarters to the tri-county region this year.
Tom Brady Enterprises includes Brady’s business ventures such as sportswear company Brady Brands, wellness-focused brand TB12 and production company Religion of Sports, according to the release. Brady also owns stakes in several sports teams and a pickleball franchise.