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Lease roundup: Niku X restaurant opening in South Beach, Equinox coming to Boca Raton

Also, Sprouts Farmers Market plans Florida expansion

A photo illustration of Chubby Group founding partner David Zhao along with 555 Washington Avenue in Miami Beach (Getty, LinkedIn/
A photo illustration of Chubby Group founding partner David Zhao along with 555 Washington Avenue in Miami Beach (Getty, LinkedIn/

Hospitality firm Chubby Group will open its upscale buffet-style restaurant Niku X in South Beach, The Real Deal has learned. 

Philadelphia-based Chubby Group leased 10,000 square feet at 555 Washington Avenue in Miami Beach, according to Aaron Butler, the landlords’ broker. Niku X will open early next year at the four-story office building. 

Butler and Luca Bhalla of Avenue Real Estate Partners represented New York-based Greenmont Group and Boston-based The Davis Companies. David Goldberg and Allan Perales of Goldstreet Partners represented the tenant. 

Davis paid $52.3 million for the building in 2022, records show.  

Chubby Group, previously called Chubby Cattle International, owns a diverse portfolio of restaurants across the U.S., including Chubby Cattle BBQ, Chubby Cattle Hotpot, The X Pot and Wagyu House. The firm sources the wagyu from its own cattle farms, according to a news release from Avenue Real Estate. David Zhao is a founding partner of Chubby Group. 

Equinox | Boca Raton 

Equinox will open at BH Group and Pebb Enterprises’ Office Depot headquarters project in Boca Raton

The luxury gym leased 37,000 square feet at 6600 North Military Trail, where it will open late this year, according to a source familiar with the deal. 

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The Toledano family’s Aventura-based BH Group and Boca Raton-based Pebb bought the 29-acre office campus in 2023 for $104 million

The firms are partnering with the Pérez family’s Related Group to partially redevelop the 651,000-square-foot office campus. This month, they scored approval for an eight-story, 500-unit apartment building; 43,000 square feet retail and dining; and a nearly 37,000-square-foot gym to replace an existing office building. 

Office Depot, which sold the campus to the developers, kept its headquarters there, consolidating in the 214,700-square-foot central tower. Previously, its offices were scattered across the campus. 

Renewable energy firm MN8 Energy also leased 20,400 square feet at the property. 

Sprouts Farmers Market | Coconut Creek 

Sprouts Farmers Market will open in Coconut Creek

The grocery store leased 23,300 square feet at 1019 Lyons Road, where it will open on April 25, according to the tenant’s news release. Sprouts is known for its organic, vegan, ketogenic, gluten-free and paleo-friendly items. 

The lease is part of Sprouts’ Florida expansion, with seven new stores planned to open this year. 

The Coconut Creek property is owned by an entity tied to Port St. Lucie-based Mouhalis Capital Management and Pinecrest-based MMG Equity Partners, according to records. 

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