FundKite, Telecom Italia Sparkle, more | One Biscayne Tower | Miami
CP Group scored five new tenants for a combined 32,000 square feet at One Biscayne Tower in downtown Miami.
Fintech firm FundKite opened its headquarters in an 11,500-square-foot office at 2 South Biscayne Boulevard, according to a CP news release.
The deal marks a move and expansion by FundKite. Last year, the firm first moved its headquarters from New York to Miami, taking 5,300 square feet at Aby Rosen’s 100 Biscayne tower near its new base.
In other One Biscayne Tower leases, Italian communications service provider Telecom Italia Sparkle opened in 4,000 square feet; Atlanta-based law firm Taylor English Duma opened in 8,800 square feet; and management consultant and investment firm Applied Value Group opened in 3,000 square feet, according to the release. Hedge fund Valley Forge Capital Management is slated to open in a 5,000-square-foot office in the fourth quarter.
Boca Raton-based CP Group (formerly called Crocker Partners), Sabal Capital Partners and funds managed by Rialto Capital Management bought the 38-story, 692,000-square-foot One Biscayne for $225 million in 2021.
Brian Gale and Andrew Trench of Cushman & Wakefield represented the landlords.
Adam Talbot of Cresa represented Telecom Italia, Tony Jones of Cushman represented Taylor English, Christopher Harak of Blanca Commercial Real Estate represented Applied Value and Shay Pope of CBRE represented Valley Forge.
In September, One Biscayne Tower scored a 26,000-square-foot lease with co-working space provider Quest Workspaces for its flagship Miami office.
STAX Equity | Lincoln Road | Miami Beach
Commercial real estate firm STAX Equity, founded in November, opened its headquarters on Miami Beach’s Lincoln Road.
The private equity firm focuses on acquisitions, development and investment, and also has an AI-based brokerage arm. It leased 6,000 square feet at 846 Lincoln Road, according to a STAX news release.
Founded in November by Michael Salafia, STAX has a niche in leased retail and industrial properties such as convenience stores, gas stations and billboards. It has invested $100 million to date, the release says.
New York-based Crown Acquisitions, led by Stanley Chera and Isaac Chera Sr., owns the seven-story Lincoln Road building, according to records and Crown’s website.
The Salty | Wynwood
The Salty, once a weekend-only doughnut shop that has expanded throughout the Southeast, will nearly quadruple its original flagship store in Wynwood.
This summer, The Salty will open in a 2,700-square-foot space at 50 Northwest 23rd Street in Miami. That is up from its current 725-square-foot space at the same building, according to a company news release.
Robert Rivani’s Black Lion Investment Group bought the building from East End Capital for $13.3 million in 2021, records show.
The Salty opened for weekends about seven years ago in Miami, first running out of a vintage camper and then moving to its Wynwood space in 2016. Amanda Pizarro and Andy Rodriguez, who then were a couple and now are married, are the founders.
The Salty now has eight outposts in Florida, North Carolina and Texas, with plans to open three in Atlanta, two in Tampa and one in Miami’s Coconut Grove.
Specialized Freight Carriers | Weston Commerce Park
Logistics provider Specialized Freight Carriers leased the entire Weston Commerce Park industrial building.
Specialized Freight Carriers moved into 134,400 square feet at 1951 North Commerce Parkway in Weston this month, according to a news release from the landlord’s broker. The tenant, which is also based in Weston, will use the warehouse for third-party logistics.
Chris Metzger of Cushman & Wakefield represented the landlord. Synergy Industrial represented the tenant.
Ridgeland, Mississippi-based EastGroup Properties owns Weston Commerce Park. It paid $14.3 million for the building in 2016, according to records. Marshall Loeb is CEO of EastGroup.
Midtown Boba | Wynwood Walk | Miami
Tampa-based artisanal bubble tea shop Midtown Boba will open its first Miami shop at Wynwood Walk.
Midtown Boba signed a 15-year lease for 630 square feet at Thor Equities’ Wynwood Walk, according to a Thor news release. The plaza is on the southwest corner of Northwest 29th Street and Northwest Second Avenue.
Midtown Boba will open at 2808 Northwest Second Avenue in December.
The deal comes on the heels of two other tenants taking space at Wynwood Walk. Collector’s Club, a new store for sports cards and apparel, vintage video games and toys, will open its first shop at Wynwood Walk in November. Chama De Fogo Brazilian Steakhouse will open its first restaurant early next year.
Led by Joseph Sitt, Thor developed the 63,000-square-foot plaza.
C-Air Brokers and Forwarders | Brownsville | Miami-Dade County
Logistics firm C-Air Brokers & Forwarders is keeping its 50,000-square-foot industrial space in Miami-Dade County’s Brownsville neighborhood.
C-Air renewed its lease for the warehouse at 5959 Northwest 35th Avenue, according to a news release from the tenant’s broker. The firm has leased the space since 2012.
Jeff Hartsook and Adam Talbot of Cresa represented C-Air. Thomas Kresse of Transwestern represented the landlord.
RREEF Property Trust, an arm of Deutsche Bank’s asset and wealth management, owns the building. It paid $3.9 million for it in 2018, according to records. The purchase was part of a portfolio deal in which RREEF bought three warehouses for a combined $21.4 million from TA Realty.
The Capital Burger | Coral Gables
The Capital Burger, an extension of The Capital Grille, opened its first South Florida outpost on Miracle Mile in Coral Gables.
The restaurant leased 6,000 square feet at Terranova Corporation’s building at 300 Miracle Mile, according to the landlord’s news release. The deal also marked The Capital Burger’s first outpost south of Washington, D.C.
Led by Stephen Bittel, Terranova bought the property for $6 million in 2021, according to the release and records. The real estate firm also recently moved its headquarters from Miami Beach to 55 Miracle Mile in Coral Gables.
Bondi Sushi | Miami Beach
New York-based Bondi Sushi opened its first outpost outside the Big Apple in Miami Beach.
The restaurant leased 1,700 square feet at 959 West Avenue. It is the commercial space at one of two Southgate Towers apartment buildings, according to a Bondi Sushi news release. The outpost includes a 24-seat sushi bar and a 400-square-foot, 16-seat patio.
David Hess, Aiden Carty and Justin Hauser own Bondi Sushi.
David Abrams of masonre represented the tenant, and Comras Company represented the landlord.
Air Communities owns Southgate Towers and the commercial space that Bondi Sushi leased. Air, or Apartment Income Real Estate Investment Trust, paid $223.5 million for the pair of 14-story apartment buildings and $26.9 million for the commercial portion in January.
Tanuki | River Landing Shops & Residences | Miami
Asian restaurant Tanuki opened at the River Landing Shops & Residences development along the Miami River.
Tanuki took space at restaurant row, part of the mixed-use complex that spans 8.1 acres at 1500 Northwest North River Drive in Miami, according to a River Landing news release.
Coral Gables-based Urban-X Group, led by Andrew Hellinger and Coralee Penabad, completed River Landing in 2020. The project consists of 360,000 square feet of commercial space, 135,000 square feet of offices, 528 apartments and more than 2,000 parking spaces.
Minty Z | Midtown Miami
Coconut Grove restaurant Minty Z opened its second outpost in Midtown Miami.
The Asian fusion restaurant, known for its dim sum, leased space at 3451 Northeast First Avenue, according to a Minty Z news release. The outpost has a capacity for 50 guests.
Chef Alex Falco and his wife, Huimin Zhu, along with business partner Ignacio López-Mancisidor first opened Minty Z in 2020 at 3206 Grand Avenue in Miami’s Coconut Grove neighborhood.
Arhaus, Coco Cigars, more | Shops at Merrick Park | Coral Gables
Brookfield Properties scored six tenants at the Shops at Merrick Park in Coral Gables.
Furniture and décor store Arhaus, nonalcoholic spirits retailer Boisson, Coco Cigars, clothing store Splendid and Miami Royal Ballet & Dance school will open at the three-story mall at 358 San Lorenzo Avenue, according to a Shops at Merrick Park news release. Women’s clothing and accessories store Shusha Boutique has already opened.
Purificacion Garcia, a men’s and women’s clothing and accessories retailer, moved from its previous location to a bigger store at the Shops at Merrick Park.
Representatives of the mall didn’t provide the square footage that tenants leased.
Canadian alternative investor and asset manager Brookfield’s North American real estate arm, Brookfield Properties, is led by Brian Kingston.
Read more
Commercial
South Florida
Lease roundup: Wilhelmina Models moves to Wynwood, Terranova to Coral Gables