Japanese Steakhouse, Mining Firm Lead Miami Lease Wave
Riviera Dining Group secured 19,000 square feet for Hoño steakhouse at E11even Club Hotel. Canadian mining company Collective Mining relocated its headquarters to downtown Miami's Citigroup Center, joining a string of new tenants.
Riviera Dining Group has secured a substantial 19,000-square-foot lease at E11even Club Hotel & Residences Miami for its new Japanese steakhouse concept, Hoño. The restaurant will occupy the second floor and rooftop of the tower at 20 Northeast 11th Street in Miami's Park West neighborhood, with an opening planned for this year.
Gregory Galy leads Riviera Dining, which operates several notable South Florida establishments including Mila, Claudie, Casa Neos, and AVA MediterrAegean across Coconut Grove and Winter Park. The company also manages the members-only MM concept. PMG and E11even Partners, headed by Michael Simkins, Marc Roberts, and Dennis DeGori, developed the completed tower as part of their dual E11even condo development project near the famous nightclub.
Meanwhile, downtown Miami's restaurant scene continues expanding at Miami Worldcenter, where Naftali Group's under-construction JEM Private Residences has attracted two food and beverage tenants. Restaurant ITO•Kaya, created by VCR Group in partnership with chefs Masa Ito and Kevin Kim, pre-leased approximately 3,000 square feet. SunLife Organics, Khalil Rafati's Malibu-based juice bar and organic products company, secured 2,000 square feet and also plans a Wynwood location.
VCR Group, led by David Rodolitz, Gary Vaynerchuk, Conor Hanlon, and Chef Josh Capon, already operates the ITO omakase restaurant and the members-only Flyfish Club. Miki Naftali's development company recently completed the podium level of the 67-story, 259-unit JEM tower.
The office market has also seen significant activity, with Canadian mining company Collective Mining relocating its headquarters from Toronto to downtown Miami's Citigroup Center. The publicly traded firm signed a 63-month lease at the 34-story, 810,000-square-foot building at 201 South Biscayne Boulevard, though the specific square footage remains undisclosed according to SEC filings.
Citigroup Center has experienced robust leasing momentum, adding the University of Florida Board of Trustees, law firm Kasowitz, and venture capital firm Novi Loren to its tenant roster during the first quarter. The building is owned by a partnership of Boca Raton-based CP Group, New York-based Monarch Alternative Capital, and Philadelphia-based Tourmaline Capital Partners.
In retail developments, Boston-based Wayfair will establish its first Florida presence with a massive 94,000-square-foot, two-story store at Galleria Fort Lauderdale. The home goods retailer plans to offer products specifically curated for South Florida's indoor-outdoor lifestyle and coastal aesthetic, with an opening scheduled for late next year.
The Wayfair lease occurs amid planned renovations and potential redevelopment of the 800,000-square-foot mall at 2414 East Sunrise Boulevard. A joint venture comprising Russell Galbut's GFO Investments, InSite Group, Atlas Hill Real Estate, and Prime Finance acquired the property for $73 million in September, with redevelopment plans potentially including residential components.
