Codina, CS Ventures, Long Star, Morning Calm Nab Leases

Cano Health, Isuzu North America Corporation, more | Doral

Codina Partners’ Downtown Doral mixed-use complex scored two new tenants, as well as a lease expansion and a lease renewal.

Florida medical centers operator Cano Health will move its headquarters in June to a 25,200-square-foot space on the entire sixth floor at the 8333 Downtown Doral office building, according to a news release from Downtown Doral and a spokesperson for the property.

Cano Health’s headquarters now is at 9725 Northwest 117th Avenue in unincorporated Miami-Dade County, though that building is slated for demolition and redevelopment as industrial space.

8333 Downtown Doral is at 8333 Northwest 53rd Street.

Also at the building, Isuzu North America Corporation signed a new lease for 6,300 square feet on the fifth floor, while longtime tenant HDR Engineering renewed and expanded its third-floor office by 25 percent to a total of 16,400 square feet, according to the release. Swedish forest products trading firm Ekman & Company renewed its 3,100-square-foot lease on the fifth floor.

Antonio Puente and Jonathan Jay of Fairchild Partners represented Downtown Doral. Vivian Gonzalez of Cushman & Wakefield represented Cano Health, while Travis Boyd and Jeff Gordon of CBRE represented Isuzu. Ikre Balauste of JLL represented HDR Engineering and Ekman.

8333 Downtown Doral is 90 percent occupied, according to the release.

Codina Partners, based in Coral Gables and led by father-daughter team Armando Codina and Ana-Marie Codina, developed the 250-acre Downtown Doral with 150,000 square feet of offices and over 5,000 residential units. Downtown Doral also has dining and retail, a charter school and a city government center.

Franklin Street | Coral Gables

Franklin Street opened an office in Coral Gables, marking the commercial real estate services firm’s second South Florida outpost.

Tampa-based Franklin Street leased more than 4,100 square feet at 2 Alhambra Plaza, according to the brokerage’s news release.

The firm, which has its other South Florida office in Fort Lauderdale, hired Rafael Romero in August as regional manager. Its Miami-Dade County team now consists of eight employees, focusing on self-storage and retail investment sales, retail leasing and capital markets, according to the release.

Dallas-based Lone Star Funds, Jay Caplin’s Miami-based Square2 Capital and David Moret’s Miami-based Highline Real Estate Capital own the 14-story 2 Alhambra Plaza building, which is part of The Alhambra complex that also has the seven-story building at 95 Merrick way. Lone Star, Square2 and Highline paid $119.6 million for The Alhambra in December.

Cullen and Dykman | Palm Beach

Cullen and Dykman opened a Palm Beach office, marking the law firm’s first South Florida outpost and eight nationwide.

The 176-year-old law firm leased at 375 South County Road, according to a Cullen and Dykman news release. The full-service law firm said it’s following the lead of its Northeast client base’s expansion to South Florida.

Over the past six years, the tri-county region and Palm Beach County in particular emerged as a magnet for well-heeled out-of-staters and their companies.

Developers including billionaire Steve Ross have transformed West Palm Beach, across the Intracoastal Waterway from Palm Beach, into a premier office hub. Palm Beach, primarily known as the mansion-studded barrier island and home to Mar-a-Lago, but it also is home to the Worth Avenue shopping and dining district and has a small boutique office market.

Billionaire Ken Griffin, who in 2022 moved his Citadel and Citadel Securities’ headquarters from Chicago to Brickell, paid $83 million in 2023 for the Palm Beach office building at 125 Worth Avenue.

In 2023, CS Ventures, a partnership between Charles Rosenberg of New York-based family investment office Rosemark Management and Spencer Schlager, bought the 375 South County Road complex for $18.3 million. The property consists of a pair of two-story office and retail buildings.

Cullen and Dykman leased 2,800 square feet, the South Florida Business Journal reported.

Concorde Investment Services | Boca Raton

A broker-dealer and SEC-registered investment adviser will move its headquarters to Boca Raton.

Concorde Investment Services, now based in Ann Arbor, Michigan, leased 9,000 square feet at 301 Yamato Road in Boca Raton, where it will move in the fall, according to a company news release.

The firm is a subsidiary of Concorde Holdings and a sister company to Concorde Asset Management and Concorde Insurance Agency.

The headquarters move comes amid renewed hype in the real estate community that South Florida once again is attracting out-of-state firms after the pandemic-era leasing boom. Most recently, excitement erupted again by AI giant Palantir Technologies’s headquarters relocation from Denver to a co-working space in Aventura.

The Boca Raton building where Concorde leased is owned by Morning Calm Management, led by Mukang Cho. The firm paid $39.2 million for the property in 2017, records show.

EU Motors | Hallandale Beach

A Polish drone motors manufacturing company opened its first U.S. plant in Hallandale Beach.

EU Motors, based in Krakow, opened the facility after the Federal Communications Commission added drones and drone parts to a list of products determined to “pose an unacceptable risk to the national security,” meaning they’re to be made in the U.S. and not imported.

EU Motors, which bills itself as the biggest producer outside of China, had been planning on planting a U.S. flag, and the FCC requirement just “accelerated” the expansion James Buchheim, chairman of EU Motor, said in the company’s news release announcing the Hallandale Beach plant.

The FCC rule created a supply-chain issue for U.S. drone manufacturers, and led EU Motors to open the South Florida facility, which is equipped with machines the manufacturer transported here from Poland.

The facility will initially produce 5,000 motors per month, while the plant in Poland can make more than 100,000 motors monthly, the release says.