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Miracle Mile’s largest landlord signs 17 new tenants and one lease expansion in five months, reiterating area’s allure as a top-tier mixed-use destination
Terranova Corporation, a prominent South Florida commercial real estate firm, 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.
o 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
o 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.
o 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.
o 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
o Janney Montgomery Scott, a wealth management firm, leased 2,247 square feet. Iker Belauste of JLL represented the tenant.
o Lifestyle Realty, a luxury residential real estate brokerage, leased 2,495 square feet.
o 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.
o Mitch’s Downtown Bagel Cafe, a family-owned, New York-style deli concept, leased 2,096 square feet.
o GovRecover, a licensed, tech-enabled asset recovery service, leased 1,037 square feet.
o Dr. Marta Gainza, a cosmetic dentistry office, leased 1,009 square feet.
o 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.
o Moxie’s, an upscale casual dining restaurant brand from Canada, leased 18,787 square feet at 93 Miracle Mile.
o Wells Fargo, a multinational financial services institution, leased 5,900 square feet at 200 Miracle Mile.
o Chewy Vet Clinic, a modern veterinary care concept backed by Chewy, leased 2,979 square feet at 212 Miracle Mile.
o Simka Semch, a Peruvian luxury fashion brand, leased 2,236 square feet at 330 Miracle Mile.
o Fuku Miami, a fast-casual fried chicken concept by Momofuku’s David Chang, leased 1,927 square feet at 135 Miracle Mile.
o Linen Drama, a luxury home linen brand, leased 1,089 square feet at 216 Miracle Mile.
o 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.
For more information and opportunities, visit terranovacorp.com.
ABOUT TERRANOVA CORPORATION
Terranova Corporation, South Florida’s leading commercial real estate firm, is involved with nearly $1 billion in commercial real estate assets. Terranova’s comprehensive array of services include high street retail, leasing and property management and acquisitions/joint ventures. Services are offered to a select group of partners who count on the company to maximize the value of their real estate. More information is available at terranovacorp.com.
