{"id":1004268302,"date":"2018-09-28T05:02:39","date_gmt":"2018-09-28T13:02:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004268302"},"modified":"2022-12-08T19:47:11","modified_gmt":"2022-12-09T03:47:11","slug":"coconut-grove-mixed-use-lands-anchor-tenant","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/coconut-grove-mixed-use-lands-anchor-tenant\/","title":{"rendered":"Coconut Grove Mixed-Use Lands Anchor Tenant"},"content":{"rendered":"

By Timea Papp<\/p>\n

\"Rendering<\/a>

Rendering of Mary Street<\/p><\/div>\n

Mayfair Real Estate Advisors and Terra Group have secured an anchor tenant at Mary Street, a mixed-use development taking shape in Miami\u2019s Coconut Grove<\/a> neighborhood. Advisory firm Kaufman Rossin agreed to occupy 64,666 square feet at the Class A project. Developers are transforming a former parking garage, with delivery slated for mid-2019.<\/p>\n

Kaufman Rossin will lease the building\u2019s top two floors and half of the third floor starting June 2020. The firm is currently headquartered at 2699 S. Bayshore Drive, just two blocks away from Mary Street. The lease represents a 10,000-square-foot expansion, with the tenant relocating nearly 300 employees to the new location.<\/p>\n

Co-developer Terra will also lease 13,174 square feet at the Touzet Studio-designed property, bringing Mary Street\u2019s office component to full occupancy. Terra\u2019s new corporate space will be on the building\u2019s third floor and mezzanine level. Located at 3310 Mary St., the 78,000-square-foot project will feature five floors of Class A office space, ground-floor retail space and a publicly accessible, 340-space parking garage.<\/p>\n

Pent-up demand<\/h2>\n

Upon delivery, Mary Street will mark the first completion of Class A office space in Coconut Grove\u2019s business district in more than two decades. According to a JLL report, vacancy in Coconut Grove is 1.7 percent, the lowest rate in Miami Dade County\u2019s submarkets. Amenities at Mary Street will include 24-hour security, covered drop-off and valet areas, electric car charging stations, bicycle stations and storage. Jaguar Therapeutic, OXXO Cleaners, Elia restaurant, Workout Spot and a private dentistry practice are among the signed retail tenants.<\/p>\n

Tom Capocefalo, senior managing director with Savills Studley, represented Kaufman Rossin, while Chris Dekker, vice president with Mayfair Real Estate Advisors, worked on behalf of the development team. <\/p>\n

\u201cThe move to this expanded, innovative space represents new beginnings for Kaufman Rossin while keeping us true to our roots in Coconut Grove,\u201d<\/em> said Blain Heckaman, chief executive officer of Kaufman Rossin, in prepared remarks. \u201cOur team launched Mary Street to complete the vision of a true live-work-play environment in Coconut Grove,\u201d <\/em>added David Martin, president & co-founder of Terra.<\/p>\n

Image courtesy of Terra Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Kaufman Rossin agreed to lease nearly 65,000 square feet of office space at Mary Street, an adaptive reuse project under construction in Miami\u2019s oldest neighborhood.<\/p>\n","protected":false},"author":240,"featured_media":1004508432,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,1492,21742,21747],"tags":[40934,39000,32775,36622],"class_list":["post-1004268302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-miami","category-latest","category-office","tag-coconut-grove","tag-david-martin","tag-savills-studley","tag-terra-group"],"acf":[],"yoast_head":"\nCoconut Grove Mixed-Use Lands Anchor Tenant - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/coconut-grove-mixed-use-lands-anchor-tenant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coconut Grove Mixed-Use Lands Anchor Tenant\" \/>\n<meta property=\"og:description\" content=\"Kaufman Rossin agreed to lease nearly 65,000 square feet of office space at Mary Street, an adaptive reuse project under construction in Miami\u2019s oldest neighborhood.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/coconut-grove-mixed-use-lands-anchor-tenant\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-28T13:02:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:47:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Mary-Street-Office-Complex-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1811\" \/>\n\t<meta property=\"og:image:height\" content=\"1173\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/coconut-grove-mixed-use-lands-anchor-tenant\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/coconut-grove-mixed-use-lands-anchor-tenant\/\",\"name\":\"Coconut Grove Mixed-Use Lands Anchor Tenant - 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