Cain, Vlad Doronin’s OKO Nab Studio Three at 830 Brickell

Studio Three will open a gym at the 830 Brickell tower in Miami.

The fitness studio leased 5,800 square feet at the 57-story office tower developed by Cain International and Vlad Doronin’s OKO Group, according to a news release from the landlords’ broker. Studio Three will open in the first quarter of next year in 800 square feet on the ground floor and 5,000 square feet on the second floor.

Aaron Butler of Avenue Real Estate Partners represented Cain and OKO. Allan Perales of Goldstreet Partners represented Studio Three.

The gym, which offers yoga, Pilates and cycle classes, has one other Miami outpost, at 96 Northwest 29th Street in Wynwood, according to its website. Studio Three, led by founder David Blitz, also has outposts in Austin, Texas and Chicago. Blitz is a real estate developer who co-founded Chicago-based BlitzLake Partners.

Miami-based OKO and London-based Cain completed 830 Brickell last fall at 830 Brickell Plaza, marking the first standalone office tower in Brickell in the past decade. Cain is led by Jonathan Goldstein.

The tower, which is fully leased, was under construction during the influx of out-of-state companies to South Florida in 2021 and 2022. The time period was marked by an office leasing frenzy that pushed up rents to new records. At 830 Brickell, some office leases were priced at nearly $200 per square foot, according to past 830 Brickell news releases.

Law firms Kirkland & Ellis and Sidley Austin; Canadian investment manager CI Financial; Microsoft; Brazilian bank Banco Master; and private equity firm Thoma Bravo are among tenants that leased at 830 Brickell. Also, billionaire Ken Griffin leased roughly 95,000 square feet for his Citadel. Griffin, who moved Citadel and Citadel Securities from Chicago to Miami in 2022, plans to develop a bayfront headquarters tower in Brickell where his companies will be based.

A Mediterranean restaurant and private lounge by Miami Members Hospitality, a joint venture between OKO and Tao Group Hospitality, is also on tap for the top two floors of 830 Brickell.

The asking rent for the Studio Three space was $100 per square foot, according to the release. This doesn’t necessarily mean it is the rate at which the tenant leased the space.

Across South Florida, gyms have been on a leasing spree. At Oak Row Equities’ mixed-use project in Edgewater, Equinox preleased 30,700 square feet. Led by David Weitz and Erik Rutter, Oak Row is developing a 41-story tower with 399 apartments and about 187,000 square feet of commercial space at 2600 Biscayne Boulevard in Miami. Also, The Only Studio, a Pilates studio led by Genevieve and Daniel Ross, leased 1,300 square feet at 1015 Kane Concourse in Bay Harbor Islands.