Vast Coworking Group To Occupy Three Floors at the Historic Security Building
West Palm Beach-based Vast Coworking Group has signed on for three floors at a historic building formerly occupied by WeWork in downtown Miami.
The coworking group will occupy floors 7-9, comprising 20,253 square feet at the Security Building in Miami’s central business district at 117 NE 1st Ave. The space comes equipped with 74 offices, and the group’s Venture X franchise will serve as the anchor tenant.
Vast has been working with Mike Trumpy, a Chicago-based broker and vice president at JLL, to identify strong “second-generation” office spaces, including former WeWork sites, according to a statement from the company as the United Franchise Group affiliate continues to grow its footprint. The Security Building’s ownership was represented by Colliers.
WeWork exited its location at the Security Building in 2021, a site it had occupied since 2017. After the coworking giant filed for Chapter 11 bankruptcy protection last year, competitors have started to take up space at locations vacated by WeWork around the country.
WeWork still maintains several locations in the Miami area, including in Brickell, Miami Beach, Coral Gables and Wynwood Garage, according to its website. Historically, South Florida properties have been some of the company’s most successful.
Vast has been actively expanding its reach in multiple markets, and at the start of the year, it acquired flexible workspace provider Intelligent Office. The acquisition brought Vast’s total footprint to over 190 locations and 2.4 million square feet of office space across eight countries, adding 55 locations in the United States and Canada.
In South Florida, Vast offers nine locations across its three brands — Venture X, Office Evolution and Intelligent Office. The company thinks South Florida remains a prime area for development and will continue to add locations across the region, according to a statement from the office space provider.
The new downtown Miami location will include a Venture X signature café and networking area alongside offices and sit-to-stand desks.
The Security Building opened in 1927. The 17-story tower is listed on the National Register of Historic Places and was renovated in 2016. The tower’s facade includes design characteristics from the French-inspired Second Empire style and the Chicago School, including an “almost temple-like” base that encompasses the tower’s first three floors, according to a city of Miami preservation document.
