Lease roundup: Financial firms lease at Steve Ross’ West Palm towers, Pura Vida is in expansion mode

Also, CP Group and DRA Advisors score seven tenants in downtown Miami

Steve Ross, CP Group, DRA, Miami Worldcenter Score Tenants
Related Companies' Stephen Ross with 360 Rosemary tower at 360 South Rosemary Avenue in West Palm Beach and One Flagler Tower in West Palm (Related Companies, Related Southeast, Getty)

JPMorgan Chase, Northwell Health, more | downtown West Palm Beach 

Steve Ross’ Related Companies signed six new tenants in downtown West Palm Beach, amid the developer’s hefty bet on the area’s office market. 

JPMorgan Chase leased space at the 20-story 360 Rosemary building at 360 South Rosemary Avenue, which Related completed in 2021, Bloomberg reported

Also, billionaire hedge funder John Paulson’s Paulson Capital and private equity investment manager HighPost Capital, founded by the Moross and Bezos families, leased space at Related’s 25-story One Flagler tower that’s under construction at the foot of the Royal Park Bridge.

At other Related towers, Northwell Health and venture capital firm Clear Sky have signed leases, according to Bloomberg. 

The report didn’t include the square footage the tenants leased. 

New York-based Related has eight office buildings in downtown West Palm, including those planned or under construction. In 2021, the firm bought two existing towers and an ownership stake in a third. Aside from 360 Rosemary and One Flagler, Related also plans the 25-story 515 Fern on the northwest corner of Fern Street and the Florida East Coast Railway tracks, as well as the East Tower and West Tower at the CityPlace mixed-use complex. 

Pura Vida | Fisher Island 

Pura Vida is in expansion mode in South Florida. 

Already, Pura Vida opened a 5,000-square-foot restaurant at 16 Fisher Island Drive on Fisher Island in unincorporated Miami-Dade County, as well as a 3,000-square-foot restaurant at 47 Soundings Avenue in Jupiter, according to a Pura Vida spokesperson. 

Steve Ross, CP Group, DRA, Miami Worldcenter Score Tenants
Pura Vida restaurant chain founders Omer and Jennifer Horev with 15180 Biscayne Boulevard in North Miami (Google Maps, Instagram/OmerPuraVida)

Next on tap are a 6,000-square-foot Pura Vida at 6 South Ocean Boulevard in Delray Beach, and a 3,000-square-foot outpost at 15180 Biscayne Boulevard in North Miami. Both will open in June, the spokesperson said. 

This summer, Pura Vida also plans to open a 6,000-square-foot restaurant at 3034 Grand Avenue in Miami’s Coconut Grove, Commercial Observer reported

Husband-and-wife team Omer and Jennifer Horev founded Pura Vida in 2012. 

GTS Group, Latin Securities, more | downtown Miami 

CP Group and DRA Advisors scored seven new tenants at Miami Tower in downtown Miami

New-to-market financial services firm GTS Group, which has offices in New York and Chicago, took 2,900 square feet; investment adviser Latin Securities took 4,000 square feet; behavioral health care firm Two Chairs took 2,600 square feet; and Shubin Law Group took 5,200 square feet, according to the landlords’ news release. In addition, law firm Weisberg Kainen Mark took 2,000 square feet; reinsurer NormanMax Insurance Group took 4,500 square feet; and law firm Mamone & Villalon took 2,600 square feet. 

Weisberg Kainen and Latin Securities moved to Miami Tower from 1401 Brickell Avenue in Miami.  

The 47-story Miami Tower is at 100 Southeast Second Street. All of the leases were for spec office suites completed by the landlords.  

Also, law firm Assouline & Berlowe renewed and expanded its Miami Tower lease to 6,500 square feet, the release says. H&R Block and Transwestern renewed their leases. 

Gordon Messinger and Randy Carballo of CBRE represented the landlords. 

Noa Figari of Corcoran Group represented GTS. Sebastian Faerman of FA Commercial represented Latin Securities. Clay Sidner of Newmark represented Two Chairs. Randy Carballo of CBRE represented Shubin and Tony Puente of Fairchild Partners represented Weisberg Kainen Mark. Michael Feuerman and Daniel Silver of Berger Commercial Realty represented NormanMax. Sharon Ellis and Brent Palmer of Palmer Property Group represented Assouline. Glenn Gregory of Transwestern represented the firm in its renewal. 

Boca Raton-based CP Group, formerly known as Crocker Partners, and New York-based DRA Advisors bought Miami Tower for $162.5 million in 2022, records show. 

CP is led by Angelo Bianco and Chris Eachus. DRA is led by David Luski.

Free People, The Spot Barbershop | Miami Worldcenter 

Free People and The Spot Barbershop will open late this year at Miami Worldcenter

Free People, a women’s clothing, shoes and accessories store, leased 3,000 square feet; and The Spot Barbershop leased 1,700 square feet, according to a Miami Worldcenter news release. Both will be at 851 Northeast Second Avenue. 

The leases come on the heels of Santander Bank, the U.S. subsidiary of Madrid-based Banco Santander, leasing 4,000 square feet at 150 Northeast Eighth Street. The bank is expected to open early next year. 

Miami Worldcenter Associates, led by Art Falcone and Nitin Motwani, in partnership with Los Angeles-based CIM Group, is the master developer of the $6 billion mixed-use Miami Worldcenter complex at the intersection of downtown Miami and the city’s Park West neighborhood. Falcone is founder of Boca Raton-based Falcone Group, and Motwani is managing partner of his family’s Fort Lauderdale-based Merrimac Ventures. 

Miami Worldcenter Associates has sold portions of the 27-acre complex to developers over the years. 

 

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Two apartment towers and one condo tower are completed at Miami Worldcenter. Another 17 towers in various stages, from proposals to construction, would add 8,473 condos and apartments, 499 hotel keys and nearly 800,000 square feet of commercial space to the complex.  

El Palacio de los Jugos | Miami-Dade County 

El Palacio de los Jugos will open in the Country Club neighborhood in unincorporated Miami-Dade County. 

The restaurant leased 3,400 square feet at Palm Plaza at 16709 Northwest 67th Avenue for a 10-year term, according to the landlord’s news release. El Palacios de los Jugos will open in the fourth quarter. 

Cuban eatery El Palacio de los Jugos was founded in 1977 by Apolonia Bermudez.

Coral Gables-based Terranova, led by Stephen Bittel, owns the property. 

Frank Hot Dog Joint, Latin Fixin’s, more | Downtown Doral 

Three restaurants opened at Codina Partners’ Downtown Doral

Frank Hot Dog Joint, led by chef Nicolas de Zubiria; Latin Fixin’s, led by chef Alex; and Lebanese restaurant Sufrat Mediterranean Grill opened at 8455 Northwest 53rd Street in Doral, according to their respective websites and social media accounts. Each restaurant leased 160 square feet, a spokesperson for Downtown Doral said.

The eateries are in the 20,000-square-foot Doral Yard, a collection of restaurants and entertainment venues at Downtown Doral. 

Oakberry Açaí and Tacotomia, owned by Karla Hoyos, are also expected to open at Doral Yard by year-end.  

Codina Partners, led by Armando Codina and Ana-Marie Codina Barlick, is the master developer of the 250-acre Downtown Doral mixed-use project that includes multifamily projects. The firm is based in Coral Gables. 

Jetset Pilates | Aventura

Jetset Pilates will open a studio in Aventura this year. 

Franchisee Nicole Di Leo, a luxury residential broker with One Sotheby’s International Realty, leased 2,500 square feet for the studio at 2985 Northeast 199th Street, according to Di Leo and a Jetset news release. The outpost will open sometime in the late fall or early winter, Di Leo said. 

Founded by Tamara Galinsky, Jetset has been expanding in recent months with leases at 151 Southeast First Street in downtown Miami, 8236 Glades Road near Boca Raton and at 8175 Northwest 107 Avenue at Midtown Doral

Jacksonville-based Regency Centers owns the Aventura plaza where Jetset will open, records show. 

Naturepedic | Palm Beach County 

Naturepedic will open near West Palm Beach. 

The store, which offers organic bedding and mattresses, leased 1,400 square feet at 1880 Okeechobee Boulevard in unincorporated Palm Beach County, according to a Naturepedic news release. It will open on May 30.

West Palm Beach-based retail development and investment firm Deziel & Company owns the building, records show. 

Chip City Cookies | Delray Beach 

Chip City Cookies is expanding in South Florida. 

The bakery opened in an 850-square-foot space at 302 East Atlantic Avenue in Delray Beach last week and will open in a 1,100-square-foot space at 7285 Biscayne Boulevard in Miami next week, according to the tenant’s news release. Chip City Cookies opened its first South Florida outpost at 1935 West Avenue in Miami Beach last year. 

Dallas-based Canyon Partners owns the Delray Beach building, records show. An entity led by David Ivler, owner of Miami-based drone manufacturer DJI Corp., and Justin Ivler own the Miami building,  

Taco Bell | Miami Beach 

Fast food chain Taco Bell will open in Miami Beach. 

Taco Bell took 3,400 square feet of ground-floor space at 1624 Washington Avenue in the 420 Lincoln Road building, according to a news release from the landlord’s broker. The restaurant is expected to open in 10 to 12 months. 

Stefano Santoro of Disruptive Real Estate represented the landlord, and Andrew Pearl of IMA represented the tenant. 

Miami Beach-based PLC Investments, led by Paul L. Cejas, owns the building, records show. 

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