Class X office in Miami Beach was 90% leased before opening — Fortune
Developer Robert Rivani invested $100 million in the renovation of the Class X office building in Miami Beach, Florida, United States. The 163,000-square-foot building is located near the Lincoln Road promenade and was previously called The Lincoln. It was acquired in 2024 for $62.5 million.
As Fortune reports, Rockwell Group was responsible for renovating the building. Rivani positions Class X as an office space with services typical of premium hotels.
Services in the building
The complex includes a Monarch Athletic Club center with a cold plunge and sauna. This is the chain's first location outside California. The building is also set to house a stem cell clinic and a longevity physician, where peptides will be used.
Other announced services include a speakeasy-style bar closed to tenants during the day and open to visitors after work, an omakase restaurant, concierge services, a hospitality director, and valet service. According to Rivani, the parking area will feature decorative ceiling lighting and a 150-foot linear waterfall.
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The developer said that the emphasis on medical and wellness services is partly linked to his own experience with autoimmune issues. He sought to combine workspaces, a gym, medical services, and spaces for informal interaction in one building.
Tenants and development
According to Rivani, about 90% of the space had already been pre-leased before the complex opened. Rental rates approached $175 per square foot.
Playboy is relocating its global headquarters from Los Angeles to a 20,000-square-foot penthouse at Class X under a 10-year lease. Other tenants named include Daymond John, Morgan Stanley, Wix, Raymond James, Comcast, Coldwell, as well as medical practices and longevity-related establishments.
The second phase of the project includes a restaurant, additional office space, and padel courts on the roof of the parking garage. Rivani also wants to develop Class X in other U.S. cities and is considering raising financing in 2027, when the concept proves its viability.
