Terranova Secures Nearly 100K SF in New Leases Totaling $56 Million in Coral Gables

Terranova Corporation, a prominent South Florida commercial real estate firm, has announced the successful execution of 96,791 square feet of new and expanded leases across nine properties on and surrounding Miracle Mile, totaling $56,396,408. This velocity underscores the firm’s continued investment in Coral Gables and its ongoing appeal as a premier mixed-use destination.

Completed over the past five months, the leasing activity reflects sustained demand from financial services, hospitality, wellness, and experiential retail tenants seeking high-quality space in one of Miami’s most walkable and affluent submarkets.

“With Terranova being the largest property owner on Coral Gables’ Miracle Mile, we’ve taken a highly intentional approach to curating a dynamic tenant mix that drives consistent foot traffic and enhances the overall community experience,” said Stephen Bittel, Founder and Chairman of Terranova Corporation. “Our goal is to make the area an all-day destination to continue attracting leading brands and serve the community.”

In total, Terranova executed 17 new leases and one expansion.

At 255 Alhambra Circle, a 13-story, 240,719-square-foot Class A office building owned in partnership with Torose Equities and LNDMRK Development, seven leases were completed, further strengthening the building’s tenant roster of leading professional services firms, which currently include Leon Cosgrove and TD Bank.

Colliers’ Vice Chairman Stephen Rutchik and Senior Vice President Kevin Gonzalez represented the landlord in the following transactions.

• Industrious, a leading provider of flexible workplace solutions, owned by CBRE, leased 22,693 square feet for its first Coral Gables location. Matthew Cheezem and Tyler Reynolds of Cushman & Wakefield represented the tenant

• Driftwood Capital, a hospitality-focused, vertically integrated commercial real estate firm, expanded its existing lease of 13,900 square feet to 18,529 square feet. Jeff Gordon of CBRE represented the tenant.

• Edward Jones, a full-service financial services firm specializing in personalized wealth management and retirement planning, leased 5,728 square feet. Ryan Dupaul and Tyler Reynolds of Cushman & Wakefield represented the tenant.

• UMusic Hospitality and Lifestyle, a global hospitality company backed by Universal Music Group, leased 3,369 square feet. Javier Martin of Blanca Commercial Real Estate represented the tenant

• Janney Montgomery Scott, a wealth management firm, leased 2,247 square feet. Iker Belauste of JLL represented the tenant.

• Lifestyle Realty, a luxury residential real estate brokerage, leased 2,495 square feet.

• PayCargo, a global logistics industry payments platform, leased 1,721 square feet. Thad Adams of The Allen Morris Company represented the tenant.

The LEED Gold-certified building features a modern glass curtain wall, onsite parking, and 24/7 security, complemented by a fitness center and café.

Terranova’s Mindy McIlroy and Lauren Metser executed the following leases.

Four were at 299 Alhambra Circle, a five-story, 62,327-square-foot office building with the same owners as 255 Alhambra Circle.

• Mitch's Downtown Bagel Cafe, a family-owned, New York-style deli concept, leased 2,096 square feet.

• GovRecover, a licensed, tech-enabled asset recovery service, leased 1,037 square feet.

• Dr. Marta Gainza, a cosmetic dentistry office, leased 1,009 square feet.

• Aram Wellness, a holistic wellness brand, leased 2,354 square feet.

The remainder were executed on Miracle Mile, Coral Gables' premier retail and dining corridor, where Terranova owns and operates 15 buildings.

• Moxie’s, an upscale casual dining restaurant brand from Canada, leased 18,787 square feet at 93 Miracle Mile.

• Wells Fargo, a multinational financial services institution, leased 5,900 square feet at 200 Miracle Mile.

• Chewy Vet Clinic, a modern veterinary care concept backed by Chewy, leased 2,979 square feet at 212 Miracle Mile.

• Simka Semch, a Peruvian luxury fashion brand, leased 2,236 square feet at 330 Miracle Mile.

• Fuku Miami, a fast-casual fried chicken concept by Momofuku’s David Chang, leased 1,927 square feet at 135 Miracle Mile.

• Linen Drama, a luxury home linen brand, leased 1,089 square feet at 216 Miracle Mile.

• Fernandez & Associates, a court reporting firm, leased 595 square feet at 220 Miracle Mile.

“Terranova is excited to introduce a new wave of tenants that further define Miracle Mile’s next chapter,” said Mindy McIlroy, President of Terranova Corporation. “There’s a clear reason leading brands are choosing to establish a presence here. It speaks to the strength, momentum, and long-term vision of the area.”

Known as “The City Beautiful,” Coral Gables remains one of Miami’s most established and desirable submarkets, offering a blend of historic character, walkability, and proximity to major business and cultural hubs. With direct access to Miami International Airport, Downtown Miami, and Brickell, the area continues to attract a sophisticated mix of tenants seeking both accessibility and a high-quality environment.

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Terranova Reveals Arquitectonica-Designed Carbon-Neutral Mixed-Use Building On Miracle Mile In Coral Gables

Terranova Corporation, led by Stephen Bittel, has revealed plans for 93 Miracle Mile, the first carbon-neutral building in Florida on Miracle Mile in Coral Gables. The Arquitectonica-designed mixed-use commercial building will use electricity-generating photovoltaic glass and will be the first built under the new Miracle Mile Overlay zoning code. Plans were recently submitted to the City of Coral Gables for approval. 93 Miracle Mile will rise four-stories and will feature 6,700 SF of ground floor restaurant space, 9,700 SF of retail space on the 2nd and 3rd floors, and 7,300 SF of office space on the 4th floor. The building will also feature a rooftop terrace.

Terranova is the largest property owner on Miracle Mile with a portfolio spanning 15 properties and 120,000 SF. They acquired the .2-acre site with a vacant 9,000 SF retail building which was previously Navarro Discount Pharmacy for $6.8 million in December 2021.

Miracle Mile's Only Cuban Restaurant Calle 23 Miami Reveals Revamped Menu For Summer

Trendy Coral Gables’ Cuban bar and restaurant Calle 23 Miami has unveiled a revamped menu for the summer season, serving up bold, chef-driven Cuban classics made with fresh, local ingredients that stay true to the rhythm and soul of Havana. As the only Cuban restaurant along the enchanting Miracle Mile, the colorful Calle 23 Miami fills a much-needed void in the neighborhood with its authentic flavors and lively atmosphere. New for summer, the refreshed menu doubles down on its Cuban inspiration with a Miami twist, featuring a selection of mouthwatering small, medium and large plates, along with refreshing salads, sides and desserts to satisfy all cravings.

Food

Get transported to the streets of Havana at Calle 23 Miami, where the team’s Cuban roots are expressed through sensational music, cocktails and a newly updated food menu. Ideal for sharing, new small plates like the Croquetas del Barrio (ham, chorizo, or cheese served with cilantro, BBQ chef sauce and pepper jelly) and the Tartar del Salmon (served with avocado, pico de gallo, passion fruit, olive oil and salt) reinvent beloved Cuban classics while celebrating summer in Miami with seasonal ingredients and refreshing preparations.

From the medium plates, La Frita Cubana (two sliders made with homemade chorizo beef patties, chipotle dressing, pepitas, and signature fries) is a satisfying handheld dish that’s perfect for fueling up before dancing the night away to Calle 23’s live salsa music. From the large plates, the Nobel Ropa Vieja de Res (slow-cooked beef, rice, black beans and maduros) hits the spot with its rich, soulful sauce.

Salads like the Ensalada de Aguacate (avocado, heirloom tomatoes, red onions, and citrus dijon dressing) complement any of Calle 23 Miami’s elevated yet familiar Cuban-inspired dishes, but also work well as a meal on their own. For dessert, the new Arroz con Mango is the ultimate refreshing finisher for a sweet end to an amazing summer evening.

Cocktails & Entertainment

Excellent handcrafted cocktails remain a centerpiece of Calle 23 Miami’s menu. Choose from tasty options like the Mojito, Cucumber Smash or the Coco Loco, to name a few. Calle 23 Miami offers a popular happy hour, plus live entertainment, dancing and plenty of Cuban sabor throughout the week. Calle 23 features live entertainment every Thursday, Friday and Saturday.

Calle 23 Miami is located at 230 Miracle Mile Coral Gables, FL 33134.

Terranova Reveals Arquitectonica-Designed Hotel On Coral Gables' Miracle Mile

Terranova Corporation has revealed a new hotel design by Arquitectonica which has been proposed on Coral Gables’ Miracle Mile. The design was influenced by Mediterranean architecture and the historic Biltmore Hotel. The hotel will offer 120 hotel rooms and 36,778 SF of ground floor retail which will also feature restaurant space. The developers are currently seeking a waiver from the city to build the project without a parking component and the proposal will go in front of the Coral Gables Development Review Committee on July 26, 2019.