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South Florida

Lease roundup: Terra scores gym tenant, RK Centers nabs jewelry store

Fitness center Club Studio will open next year at Grove Central mixed-use project that is under construction in Miami

Render of Grove Central project in Miami with Grove Central developers David Martin of Terra, and Justin Kennedy and Peter LaPointe of Grass River Property
Render of Grove Central project in Miami with Grove Central developers David Martin of Terra, and Justin Kennedy and Peter LaPointe of Grass River Property (Terra/Grass River Property, Terra)

Club Studio I Grove Central I Miami 

Club Studio, a gym owned by the same company that runs LA Fitness, will open at the Grove Central mixed-use development that is under construction in Miami. 

The fitness club took 38,400 square feet at the project rising on the southwest corner of U.S. 1 and Southwest 27th Avenue, steps from the Coconut Grove Metrorail station, according to the developers’ news release. Club Studio, which is owned by Fitness International, will open next year. 

Jim Petrarca of The Shopping Center Group represented the tenant in the lease, and Rod Castan of Metro Commercial represented the landlords. 

Terra and Grass River Property are developing Grove Central with a 23-story, 402-unit multifamily tower and 170,000 square feet of retail, the release says. The apartments will include workforce and co-living units. 

Grove Central is being developed in partnership with Miami-Dade County. While the county owns the 5-acre development site, Terra and Grass River are renovating the Metrorail stop and building a 1,250-space public parking garage. 

Other retail tenants opening at Grove Central include Sprouts Farmers Market, Total Wine, Five Below and Target. 

Terra is led by David Martin. Grass River is led by co-CEOs Justin Kennedy and Toby Cobb, co-founder Jonathan Roth and President Peter LaPointe. Both companies are based in Coconut Grove. 

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Completion of Grove Central is expected this fall. 

Ammrada I Sunny Isles Beach 

Jewelry brand Ammrada opened its first store at one of RK Centers’ retail properties in Sunny Isles Beach. 

Ammrada, created by Ron Arbusman, has a 400-square-foot boutique at 16850 Collins Avenue, according to the tenant’s news release. Prices for jewelry pieces range from $1,000 to $200,000.

RK Centers, founded and led by Miami Heat minority owner Ranaan Katz, has owned the 97,000-plus-square-foot retail property for three decades. RK Centers paid $2.3 million for the property in 1993, records show. The plaza was built in 1996.

RK Centers, based in Sunny Isles Beach, has continued its retail property purchases in recent years. In October, it bought the Aldi-anchored plaza at 10790 Biscayne Boulevard and 1290 Northeast 108th Street near North Miami from Seritage Growth Properties for $38 million. 

The deal came on the heels of RK’s $14 million purchase of the Publix-anchored Hallandale Place Shopping Center at 1400-1484 East Hallandale Beach Boulevard in Hallandale Beach.

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