Self-Described 'Funding King' Moving Headquarters From Las Vegas To Miami
Digital consulting firm The Boge Group is leaving Las Vegas and moving its headquarters to Miami’s River Landing.
The Boge Group says it provides entrepreneurs with $50K to $150K of 0% interest startup funding. It is led by 26-year-old founder and CEO Andrew Imbesi, who calls himself “the funding king,” according to its website.
It signed a 14K SF lease at the office component of the $425M River Landing development from Coral Gables-based Urban-X Group, the developer announced Tuesday. Urban-X principal Andrew Hellinger said Boge Group has relied on remote working since the pandemic, but after Imbesi moved to Miami, his company is now following.
Before taking space at River Landing, Boge Group was deciding between offices in Brickell and Wynwood, Hellinger told Bisnow Tuesday. River Landing won out because many of Boge's employees don't have a car and are used to hybrid work, Hellinger said.
“I think that we were the front-runner because when they move people here, they can live and work here,” he said. “They don’t have to leave.”
Anthony Furlin of Coldwell Banker Realty represented Boge Group in the lease, which Hellinger said runs for seven years with extension options that could take it to 20 years.
“Their thought is they’re going to grow so rapidly that 14K SF won’t be enough for them within the next seven years,” Hellinger said.
River Landing opened its doors in September 2020 at 1500 Northwest North River Drive along the Miami River. The complex spans more than 8 acres with 342K SF of retail and commercial space and 528 apartments. Urban-X developed 149K SF of office space at River Landing, more than 20K SF of which is still available for lease following Boge Group's deal.
Miami’s office market has slowed down, with activity at a three-year low and the average lease size less than 4K SF as of October, Bisnow previously reported. But Miami's vacancy rate was 15.8% at the end of the third quarter, according to Avison Young, far below the national average.
The mixed-use nature of River Landing addresses the shifting needs of postpandemic employee preferences, seeking to unify work and leisure through social amenities, Hellinger said. The tower connects to the retail and dining options as well as an 850-foot linear park with a boat deck.
The Miami-Dade State Attorney's Office leases a third of the office space, and other tenants include Jackson Health System’s Public Health Trust and Clutch Studios.
The last 20K SF could be broken up into three offices, but Hellinger said ideally he can find one finance or technology company to take it all in one fell swoop. But for a development that doesn't have Wynwood's artsy pull or Brickell's moneyed allure, River Landing can be a tougher sell, he admitted.
“It’s hard to describe us,” Hellinger said. “Convincing that company they need 20K SF when they look at Wynwood or they may look at Brickell, that may be a big challenge for us that we’re going to have to work to overcome.”
