Terra and Grass River Property Complete Grove Central Transit Oriented Mixed-Use At Gateway to Coconut Grove

Terra and Grass River Property, two of the deepest-rooted development firms in Miami’s Coconut Grove neighborhood, have completed construction of a new mixed-use multimodal complex that exemplifies smart development in South Florida. Grove Central, located at the intersection of US-1 and SW 27th Avenue, includes a 23-story residential tower with 402 multifamily, workforce and co-living units, a new 1,250-space public parking garage, and approximately 170,000 square feet of neighborhood retail. Retail anchors include Target, Sprouts Farmers Market, Total Wine & More, Five Below and Club Studio. The transit-oriented development connects to the adjacent Coconut Grove Metrorail Station and integrates directly with The Underline linear park, Miami-Dade’s bus system, and the City of Miami’s popular trolley network.

Grove Central has been designed to create a transit-oriented hub offering a seamless pedestrian experience that encourages Metrorail ridership and urban living. The project was developed as part of a Miami-Dade County initiative aimed at improving connectivity between residential living, commercial development, and mass transit through private development on County-owned land.

The development, which marks the second successful public-private partnership project to deliver under Miami-Dade County Mayor Daniella Levine Cava’s tenure, represents a significant economic impact for the community generating more than 1,600 construction jobs, nearly 500 permanent full-time and part-time positions, tens of millions of dollars in lease revenue to the County, and the collection of property tax revenues for the first time in the site’s history.

“Grove Central is an exciting milestone and a shining example of a what mixed use transit-oriented development can do for a growing community like Miami-Dade,” said Miami-Dade County Mayor Daniella Levine Cava. “Projects like this are the future of Miami-Dade, and a key part of making our community more livable and walkable.”

The development’s retail component is opening in phases, with an exciting roster of tenants including anchors Target, Sprouts Farmers Market, Club Studio, Total Wine & More, and Five Below. Additional retailers expected to open over the next year include Black Sheep Coffee, Mattress Firm, Chipotle, T-Mobile, Panda Express, Woof Gang Bakery and Pacific Dental.

Meanwhile, Grove Central’s residential tower is now open for occupancy as leasing gets underway and renters officially begin to move into the building. The development’s 402 multifamily apartments range from 400-square-foot studios to expansive five-bedroom apartments measuring up to 2,170 square feet in size. Rental rates range from approximately $2,000 to $3,350 per month.

“Grove Central is a premier location for a transit-oriented community, and a model for the future of smart development and mobility across South Florida,” said David Martin, CEO of Terra. “The development’s carefully curated list of retailers complements the needs of residents and the surrounding community, as well as the neighborhoods along the Metrorail from Downtown Miami to Coral Gables and beyond.”

“Grove Central is a preeminent example of a multimodal transit-oriented development that combines daily-service retail space and Class A attainable housing product that amenitizes the Metrorail and Underline while promoting ridership and alternative modes of transportation for residents and locals,” said Peter LaPointe, President of Grass River Property. “We are grateful to have partnered with Miami-Dade County on this transformative development, which serves as a model for what is possible when the public and private sectors come together.”

Grove Central was designed by Touzet Studio, a Miami-based design firm led by Carlos and Jackie Touzet, in collaboration with architecture firm RSP Architects and Walter Meyer of New York’s Local Office Landscape Architecture (LOLA). The focal point of the development is a tree-lined public plaza connecting the project and improving pedestrian flow to and from the revamped Metrorail station and the adjacent Underline, a 13-mile linear park running from South Miami-Dade to Downtown Miami. Water resilient plantings designed as rain gardens are used to absorb storm water, and a large cistern captures roof runoff for reuse. With Florida Green Building Certification, Grove Central also embraces and exceeds the City of Miami’s sustainability, efficiency, and green building requirements.

Apartments at Grove Central boast plank flooring, contemporary finishes and fixtures, modern Italian kitchen cabinetry, smart energy efficient stainless-steel appliances, full-size washers and dryers, in-unit high-speed WiFi technology, spacious living and dining rooms, walk-in closets, en-suite bathrooms, and floor-to-ceiling windows and balconies with views of Coconut Grove, Biscayne Bay, and the Downtown Miami skyline.

Extensive building amenities include a resort-style rooftop pool deck, a grilling terrace overlooking Biscayne Bay, a party room with a karaoke lounge, a double level fitness center with a dedicated yoga studio, a resident herb garden, and a co-working center with private conference facilities. Additionally, residents can enjoy a pub room with billiards table and ice box pantries, a coffee bar, an arcade and game room, a golf simulator, and a theater room with plush tiered seating. A dedicated residents-only entrance leads to a private double-height lobby and staffed reception desk, with 24-hour security. Technology features include smart-lock entry points with mobile app functionality, electric vehicle charging stations, and high-speed mesh networked WiFi.

Located at the entrance to one of Miami’s most popular neighborhoods, Coconut Grove has long been known for its enviable waterfront along Biscayne Bay and the lush tree canopy. In addition to the building’s many on-site amenities, Grove Central residents are an easy bike-ride or walk from dozens of parks, art galleries, trendy shops, restaurants, bars and nightlife options in and around Coconut Grove.

Images via Terra

New Fitness Concept "Club Studio" Coming to Miami's Grove Central Development in Coconut Grove

Club Studio, a new high-end fitness concept by Fitness International, the company behind LA Fitness, has signed a 38,400 square foot lease at Grove Central, a mixed-use transit-oriented development underway in Miami’s Coconut Grove neighborhood. The new state-of-the-art gym will incorporate innovative boutique fitness classes along with plenty of free weights, strength and cardio areas, a dedicated functional training area, cryotherapy and recovery services, locker rooms, and more. Situated at the entrance to Coconut Grove at the intersection of US-1 and 27th Avenue, construction of the Grove Central development is nearing completion and is slated for delivery later this year.

Grove Central is being developed by a joint venture between Miami-based developers Terra and Grass River Property. The development will include a 23-story residential tower with 402 multifamily, workforce and co-living units, a new 1,250-space public parking garage, and a total of approximately 170,000 square feet of neighborhood-oriented retail space. The transit-oriented project will connect to and facilitate privately funded improvements made to the adjacent Coconut Grove Metrorail station, and integrate directly with The Underline linear park, Miami-Dade’s bus system, and the City of Miami’s popular trolley network.

Slated to open in 2024, Club Studio will join Grove Central’s exciting roster of upcoming tenants, including Target, Sprouts Farmers Market, Total Wine and Five Below.

“Our vision of Grove Central as an everyday, transit-oriented destination is coming to life, with our retail poised to serve the development’s multifamily residents, nearby neighbors, and commuters who take the train. Within one single mixed-use complex, they’ll find everything from a gym and grocery store, to exciting retail and food and beverage options,” said David Martin, CEO of Terra.

Club Studio redefines the traditional gym offering in an elevated and boutique fitness experience with “studios” that combine a variety of fitness classes in a modern setting, exquisite amenities, and lifestyle experiences. From a wellness café to infrared saunas and personal training services – Club Studio offers an elevated experience and upscale wellness amenities to its members.

“Wellness is becoming a big part of our daily lives,” said Justin Kennedy, Managing Partner, Co-CEO & CIO of Grass River Property. “The addition of Club Studio in this location is not only a benefit to the residents who will be living at Grove Central, but also to those living in surrounding communities. Packaged with other concepts such as Sprouts Farmers Market, residents of Coconut Grove will be getting exciting new wellness-focused retail concepts in their neighborhood.”

The focal point of Grove Central will be a tree-lined public plaza connecting the project with an improved Metrorail station and the adjacent Underline, a 13-mile linear park running from South Miami-Dade to Downtown Miami. The project has been designed by Miami’s Touzet Studio, a Miami-based design firm led by Carlos and Jackie Touzet in collaboration with architecture firm RSP Architects and Walter Meyer of New York’s Local Office Landscape Architecture (LOLA).

Rod Castan of Metro Commercial represented the developers in the lease transaction, while Jim Petrarca of The Shopping Center Group represented Club Studio.

The CocoWalk Mixed-Use Property Reaches 100% Leased in Miami’s Vibrant Coconut Grove

Less than a year since its reopening, the newly renovated CocoWalk mixed-use property announces its retail and office components are fully leased in Miami’s vibrant Coconut Grove neighborhood. Following an extensive multimillion-dollar renovation, the property now features 150,000 square feet of prime retail space leased to leading local, national and international restaurant and retail brands and a newly built, 85,745-square-foot office building that is home to regional and global businesses. The mixed-use property is owned by a joint venture comprised of Federal Realty Investment Trust (NYSE: FRT), The Comras Company and Grass River Property.

“The office and retail leasing success CocoWalk has achieved demonstrates how Coconut Grove is becoming a leading destination for business and leisure,” said Stuart Biel, senior vice president of regional leasing at Federal Realty Investment Trust. “The diverse mix of service-oriented retail, chef-driven restaurant concepts and entertainment the reimagined CocoWalk offers will serve locals and visitors alike, while also providing onsite amenities to the daytime population occupying our office spaces.”

Along with reaching 100% leased, CocoWalk has completed leasing its office spaces attracting seven companies representing the financial and investment, hospitality and cruise industries, amongst the fastest growing in the region. The latest businesses to ink office leases are: cruise line Azamara; Creating Culinary Communities, or C3, a company led by Sam Nazarian, the founder of global hospitality firm sbe Entertainment Group that operates multiple SLS, Mondrian and Delano hotel locations; Uno Management Services; Lagoon Advisors, an investment banking advisory firm; Baymount Management, an investment management firm; The Jordan Company, a private equity firm with offices in New York, NY; Stamford, CT and Chicago, IL; and OC Investment Management, LLC.

Following the extensive remodel, CocoWalk now features three levels of prime retail space, the newly built class A office building One Cocowalk and renovated office space on the property’s west side known as Two Cocowalk. New-to-market tenant The Jordan Company is leasing 12,717 square feet; Uno Management Services will occupy 8,273 square feet; Lagoon Advisors will take 3,510 square feet; Baymount Management 1,928 square feet; and OC Investment Management, LLC another 1,247 square feet at One Cocowalk. Meanwhile, upscale cruise line Azamara inked a 9,286-square-foot lease; and C3 will occupy 9,205 square feet that will be home to its headquarters, a test kitchen, and culinary institute at Two Cocowalk.

The newly signed companies join an office tenant roster that includes American Land Ventures, international law firm Weinberg, Wheeler, Hudgins, Gunn & Dial, LLC, private equity firm Boyne Capital, and creative co-working pioneer Spaces. Amenities at the office building include dedicated elevators connecting office users with private parking, 24/7 security, a full-service, on-site gym and access to the building’s rooftop terrace and event space that overlook Coconut Grove’s lush tree canopy and bay views.

The exclusive leasing agent for the office space at CocoWalk is Blanca Commercial Real Estate led by Founder, Chairman and CEO Tere Blanca, Executive Vice Chairman Danet Linares and Vice Chairman Juan Ruiz.

“The successful leasing of CocoWalk’s office component has been a result of the quality office space, strategic location and direct access to dozens of dining and shopping options that the property offers,” said Tere Blanca, Chairman and CEO of Blanca Commercial Real Estate.

Among the restaurant and retailer concepts already signed at CocoWalk are Planta Queen, Sushi Garage, Mister 01 Extraordinary, Botanico Gin & Cookhouse, Salt & Straw, Sweetgreen, Narbona Natural Foods & Farm Market, Bluemercury, Edward Beiner, Edite Mode and The Spot Barbershop.

Five New Wellness And Beauty Retailers Sign Leases At CocoWalk In Coconut Grove

Five new retailers focused on health, wellness, and beauty have signed leases at CocoWalk, the newly reopened lifestyle destination in Coconut Grove. Inspired by residents’ focus on health and wellness, the ownership hand-picked these new retailers to cater to all the lifestyle and beauty needs of area residents and the surrounding communities.

The latest brands to sign retail leases are GlossLab, a hygiene-first, membership based nail studio from New York that is opening its first Miami location and has hospitality entrepreneur David Grutman as one of its investors set to open in summer 2022; Antidote Wellness Labs, a boutique fitness studio that focuses on High Intensity Interval Training, nutrition, and holistic wellness;  chic jewelry brand hailing from Saint-Tropez, Gas Bijoux; Skin Lab by Barba Skin Clinic founded by Harvard-educated dermatologist Dr. Alicia Barba, who has partnered with Skinceuticals; and 3D Brow Studio, specializing in curating perfect eyebrows.

Antidote Wellness Labs will occupy about 2,577 SF on the second floor, accompanied by Barba Skin Clinic with about 2,181 SF and 3D Brow Studio with 1,062 SF. Gas Bijoux will be located on the first floor with 562 SF facing the open-air plaza.

CocoWalk has several more restaurants nearing opening including the highly anticipated Botanico Gin & Cookhouse, which is slated for opening later this summer. Marking the first establishment in Miami to embrace gin’s international resurgence, Botanico will incorporate modern American cuisine with a bar focused on gin cocktails and Mediterranean cuisine led by Mexican Executive Chef and Co-Owner Gerardo B. De Negri.

Sunset Harbour sushi outpost Sushi Garage is also expected open at CocoWalk this fall. Sushi Garage is owned and operated by The Juvia Group and will honor Japanese traditional cuisine utilizing the freshest ingredients in the setting of a contemporary designed space that will make for a unique dining experience.

Following CocoWalk’s multi-million-dollar renovation, the open-air lifestyle center features 150,000 SF of prime retail space in the heart of Coconut Grove, one of Miami’s premier neighborhoods. The property’s ownership group is comprised of Federal Realty Investment Trust (NYSE: FRT), The Comras Company and Grass River Property.

“We’re incredibly excited to welcome these four new retailers and to increase CocoWalk’s health, wellness, and beauty offerings to the community,” said Michael Comras, CEO and President of The Comras Company. “Our goal with the newly renovated CocoWalk is to reinvigorate the lifestyle destination and offer a more curated experience to those who live, work, and play in Coconut Grove. These brands and our upcoming restaurant openings will further enhance the lifestyle, dining and shopping experience the new CocoWalk has to offer.”

The new retailers join an already impressive line-up of curated national, regional, and local concepts already open on property. Restaurants currently serving up delicious eats at CocoWalk include PLANTA Queen, Mister 01Extraordinary Pizza, Sweetgreen, and Salt & Straw. Businesses currently providing unique retail offerings and other services include Bluemercury, FP Movement, Edward Beiner, Europann, Edite Mode, Late Night Gypsy, The Spot Barbershop, and School of Rock. 

Sam Nazarian's New Dining And Delivery Platform C3 Hospitality Inks Lease For 10K SF In CocoWalk

Hospitality mogul Sam Nazarian’s new dining and delivery platform C3 Hospitality is coming to Coconut Grove after inking a lease at CocoWalk. The innovative dining hospitality platform will occupy 10,000 SF at CocoWalk, located at 3015 Grand Avenue in Coconut Grove, and is expected to open in 2022. C3 Hospitality will have an office where they will operate the newly launched CitizensGo app as well as a test kitchen and culinary space.

CocoWalk recently underwent a full redevelopment led by Federal Realty Investment Trust with partners The Comras Company and Grass River Property. CocoWalk is four-stories tall and features 150,000 SF of prime retail, dining and entertainment space. The property’s east end also includes Class A office space.

Nazarian is the founder of SBE, the hotel and hospitality brand behind the SLS, Delano, Hyde and Mondrian hotel brands as well as Katsuya and Fi’lia restaurant brands, amongst others; but recently sold his remaining share of ownership to Accor.

C3 Hospitality operates a variety of initiatives including ghost kitchens, food halls and fast casuals which bring together a selection of proprietary brands around multiple distributions points for fast delivery. In Coconut Grove C3 Hospitality will operate the newly launched CitizensGo app which allows users to order directly from a selection of curated restaurants which are all located in the same location in a single shopping cart/ order to save on delivery fees and offering the ability to mix-and-match from different eateries. C3 Hospitality’s concepts include Umami Burger, Krispy Rice, EllaMia, Plant Nation and Sam’s Crispy Chicken.

Terra And Grass River Property Break Ground On Grove Central In Coconut Grove

Terra and Grass River Property have broken ground and are beginning vertical construction on Grove Central, a new mixed-use multimodal transit hub at the entrance to Miami’s Coconut Grove neighborhood. When complete Grove Central will be 23-story apartment building and home to South Florida’s newest Target and Total Wine stores. Located at the intersection of US-1 and SW 27th Avenue, Grove Central will include about 400 multifamily apartments and workforce housing units alongside a new 898-space public parking garage, 172,000 square feet of lifestyle-oriented retail and an upgraded Metrorail station that integrates directly with The Underline linear park, Miami-Dade’s bus system, and the City of Miami’s popular trolley network.

Grove Central has been designed to create a transit-oriented hub offering a seamless pedestrian experience that encourages Metrorail ridership and urban living. The project is being developed as part of a Miami-Dade County initiative aimed at improving connectivity between residential living, commercial development and mass transit through private development on County-owned land.

The Shops At Sunset Place In South Miami Sells For $65.5 Million To Alex Vadia's Midtown Equities

Midtown Equities, led by Alex Vadia, has acquired The Shops At Sunset Place for $65.5 million from FRIT Shops at Sunset Place, a joint venture between Federal Realty Investment Trust (NYSE: FRT), Grass River Property and The Comras Company. The 9.7-acre, 524,180 square foot shopping center, which is located at 5701 SW 72nd St., Sunset Drive in South Miami, last traded for $111.5 million in 2015, representing a significant loss for the selling joint venture. The shopping center’s current occupancy is reportedly just below 60%, a significant gap from the reported 83% in March 2020.

The Shops at Sunset Place was initially developed in 1999 and plans have been approved for a major renovation which would include the addition of 414 rental apartments, 182 hotel rooms, reducing the retail component to 440,148 square feet and adding 32,840 square feet of office space. The impact of COVID-19 stalled the development plans when Federal Realty Investment Trust was hit with a $50.7 million net impairment charge in Q3 2020 when its $60.6 million non-recourse CMBS loan matured and was declared in default by the lender.

CocoWalk Launches Phased Reopening Just In Time For The Holiday Shopping Season

The highly anticipated phased reopening of CocoWalk in Coconut Grove has officially commenced with the 2020 Holiday shopping season in full swing. Federal Realty Investment Trust, the majority ownership group behind the development, with partners The Comras Company and Grass River Property are excited to announce the lifestyle center has slated new innovative dining experiences and boutiques ready to open for the Holiday season. New openings include: Planta Queen, Free People Movement, Edite Mode, Europann, Mr. 01 Extraordinary Pizza, Sportive, Edward Beiner Eyewear and The School of Rock.  

“Five years ago, we set out to re-energize CocoWalk by attracting a tenant mix better aligned with the community’s needs and interests while creating an authentic destination that would position CocoWalk at the forefront of Miami’s retail evolution,” said Stuart Biel, of Federal Realty Investment Trust. “We look forward to bringing the community together through exceptional experiences and refreshed concepts that are unique to CocoWalk and enjoyed by Miami locals and visitors alike.”

Michael Comras, CEO and President of The Comras Company and board member of the Coconut Grove Business Improvement District (BID) said: “By reintroducing CocoWalk with the types of brands and concepts that the neighborhood identifies with while giving visitors new reasons to rediscover Coconut Grove, we’ve created a destination that suits the daily desires of the area’s residents, office tenants, and locals and ensures CocoWalk reclaims its spot as the number one shopping, dining, and entertainment location in Miami.”  

CocoWalk is four-stories tall and 150,000 sq.ft. of prime retail, dining and entertainment space. The property’s east end also includes Class A office space. Retail lease is managed by Federal Realty Investment Trust and The Comras Company, office lease is managed by Blanca Commercial Real Estate. The phased reopening of CocoWalk is just in time for the Holiday shopping season rush and festivities.

Sunset Place Redevelopment Proposal Finally Gets Approved By South Miami

Nearly two years after the South Miami voted against the redevelopment of Sunset Place, the city has now approved the proposal after a special commission meeting where the South Miami City Commission voted unanimously to approve ordinances that allow will give the go-ahead to the developers to revitalize the aging mall. A partnership between Federal Realty Investment Trust, Grass River Property and The Comras Company will redevelop the 500,000 SF shopping mall into a mixed-use development with a renovated 440,000 SF mall, 32,000 SF of office space, 2 apartment buildings with 414-units and a 182-room hotel.

The developers have agreed to several climate change resistant modifications to the proposal including rooftop solar panels, a reflective or white roofing system, green roofs and the elimination of underground parking. The developers will also fund $250,000 to the city for a new streetscape on Sunset Drive, $1.5 million for pedestrian safety measures and a public amphitheater.

The Solar Powered Touzet Studio-Designed Grove Central Locks Down FAA Approval

The FAA has approved the Touzet Studio-designed Grove Central, an innovative $200 million mixed-use project that will use solar panels to produce its own electricity. Grove Central is located at the Coconut Grove Metrorail station and is being developed by Terra Group and Grass River Property. The building will be the first Urban Microgrid in Florida and will feature solar panels which will produce 2 megawatts of power that will be stored in batteries at a rate of 20 megawatts per hour. Grove Central will also feature a geothermal AC system and a waste-to-energy plant that will convert sewage into usable power. The proposal is currently undergoing wind tunnel testing.