Lease roundup: KKR opens Brickell office, a pair of banks lease in Coral Gables and Miami

KKR | Miami

Global investment firm KKR opened a new office in Miami’s Brickell.

New York-based KKR leased a permanent 6,500-square-foot space at 600 Brickell Avenue, moving to from its temporary space at 801 Brickell Avenue, the firm said. The office will focus on client and partner businesses, including institutional and family capital, as well as private wealth clients in South Florida and Latin America, according to a company news release.

KKR is led by co-CEOs Joseph Bae and Scott Nuttall.

Records show entities led by Lu Siong Ng, Lu Pat Ng and Jing Yuan Ng own the 40-story 600 Brickell.

Terrabank | Coral Gables

Community bank Terrabank is moving its headquarters to Coral Gables from Miami.

Terrabank leased 40,000 square feet on two floors, plus a banking center, at 1 Alhambra Plaza, according to the tenant’s news release. The bank will move from its headquarters at 3191 Coral Way in Miami.

Bryn Mawr, Pennsylvania-based Tourmaline Capital Partners bought 1 Alhambra Plaza, called Columbus Center, consisting of the 14-story and an eight-story building for $76 million last year. The purchase came a year into Columbus Center’s distress. Former owner Affinius Capital’s loan on the property went into special servicing in 2024 and then was under foreclosure proceeding. Chris Neilson, the court-appointed receiver in the foreclosure case overseeing Columbus Center and its financials, sold the property to Tourmaline.

Inter-American Development Bank Group | Miami

Inter-American Development Bank Group is opening its first office outside of Washington, D.C., in downtown Miami, the bank announced in a news release.

IDB Group, which is the bank’s acronym, leased space in the Wells Fargo Center tower at 333 Southeast Second Avenue, media reports said. The size of the lease hasn’t been disclosed.

Though the bank’s headquarters will remain in Washington, D.C., the expansion to Miami is a nod to the city’s growth as a hub for financial services companies. IDB Group plans to connect U.S. investors with opportunities in Latin America and the Caribbean, and vice versa.

The 47-story Wells Fargo Center is part of the Metropolitan Miami complex that also includes hotel, condo and apartment towers. Miami-based MDM Group developed Metropolitan Miami.

Fortec | Miami

A real estate firm focused on early childhood education facilities expanded its Brickell headquarters.

Fortec now leases 3,600 square feet, up from its previous 2,100-square-foot space, at the Brickell Arch building at 1395 Brickell Avenue in Miami, according to the tenant’s news release. The expansion was done as part of the firm’s lease renewal for another 66-month term.

Founded in 2020 and led by CEO Martin Saidon, Fortec has developed more than 33 schools nationwide and completed over $240 million in deals, the release says. Its start is rooted in Fortec Chairman Pablo Barreiro’s early efforts to improve his daughter’s school. The firm has been at the Brickell Arch since 2022, according to the release.

In May, Fortec launched a $100 million fund for the purchase and development of schools.

The 36-story Brickell Arch is owned by Dallas-based Gaedeke Group, which paid $142 million for the office building. Brickell Arch also is home to the Hotel AKA Brickell, owned by Electra America Hospitality Group.

Posh Life Pilates | Miami

A Pilates studio opened at the River Landing Shops & Residences mixed-use complex in Miami

Posh Life Pilates, founded by Cressida Thompson, leased 2,200 square feet at River Landing, bringing the complex’s 345,000 square feet of retail space to 96 percent leased, according to the landlord’s news release.

Miami-based Urban-X Group, led by Andrew Hellinger and Coralee Penabad, developed the 2.5 million-square-foot River Landing. It includes 528 apartments, more than 2,000 parking spaces, 135,000 square feet of offices and a riverwalk. The project was completed in 2020 at 1400-1500 Northwest North River Drive in Miami.

Sasa Management, Principia Global Capital, more | Miami

Michael Comras’ Comras Company has fully leased The Canopy in Miami’s Coconut Grove.

The latest additions include Brazilian college for entrepreneurs Link Business School, which leased about 4,500 square feet; and biopharmaceutical breakthroughs public equity hedge fund Principia Global Capital, which leased about 560 square feet, according to the landlord.

Also, investment family office Sasa Management leased 5,800 square feet at The Canopy. Ground-floor retailers include Carrot Express, FedEx and primary care provider OneMedical.

The deals come on the heels of real estate firm Trinity Investments moving its headquarters from Honolulu to The Canopy, where it leased roughly 5,700 square feet. San Francisco-based commercial real estate lender Acore Capital leased roughly 4,000 square feet.

Miami Beach-based Comras developed the three-story The Canopy at 2982 Grand Avenue more than 25 years ago, according to the landlord’s news release. Prior to the property’s recent repositioning as offices, it was home to Shaq’s 24 Hour Fitness. Before that, it was a Spec’s Music and Old Navy.

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