Arkadia Plans 40K SF Class A Office at Miami Beach Gas Station Site

Key Points

• Arkadia Property Group bought a 16,000‑sq‑ft gas station site at 1840 Alton Road in Miami Beach, paying $4.25 million, and took on a $4.5 million mortgage

• The planned development—Sunset House—is approved for 40,000 sq ft of leasable space: mostly offices plus 2,500 sq ft for a ground‑floor restaurant

• Arkadia expects to begin seeking building permits in late 2026 and plans to start pre‑leasing before construction begins

Arkadia Property Group has just closed on a key site in Miami Beach’s Sunset Harbour neighborhood and is moving forward with an upscale office project called Sunset House. The move reflects growing demand for high‑quality workspace in districts that have traditionally been more residential or retail‑focused.

Details & Significance

Location & Acquisition

• The site at 1840 Alton Road was formerly a gas station, owned by Alton Road Supreme Services

• Arkadia had an option contract in place for 12 years, locking in the price

• Financing for the purchase came via a mortgage of $4.5 million provided by Vertiz Funding, with brokers and legal teams involved, including Mika Mattingly of Colliers and attorneys from Meland Budwick

Project Details: Sunset House

• Approved for four stories, mostly office space (40,000 sq ft leasable), with a 2,500 sq ft restaurant component at street‑level

• Design features include a rooftop terrace, a third‑floor terrace, and balconies

• The project is being designed by Kobi Karp Architecture, with interiors by Argent Design

• Branding is “luxury office experience,” targeting tenants wanting high‑end, amenity‑rich environments

Timing & Leasing Strategy

• Arkadia expects to apply for building permits in late 2026

• Pre‑leasing will occur before construction begins

• Brokers are Newmark (office leasing) and Wolfe Town Retail (restaurant/retail leasing)

Market Context & Investor Insights

• There is demonstrated demand for luxury, amenity-rich office space in Sunset Harbour and broader Miami Beach

• Miami’s office market continues to outperform with low vacancy rates and rising rents

• Comparable site sales and full lease-ups at nearby projects show strong investor and tenant appetite for premium office development

Demand for High-End Office Continues

Sunset House represents a strategic move by Arkadia to capitalize on a gap in Miami Beach’s office market: high‑end, well‑located space with strong design and amenities. For investors, the key takeaways are the long lead time, the de-risking pre-leasing approach, and the strong demand indicators for luxury offices in this location. Expect this kind of development to fetch premium rents and attract tenants seeking elevated workplace experiences.