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<\/p>\nLess than a year after it leased its first Miami office,\u00a0information technology and tech security firm Iru has nailed down a huge expansion in the biggest local office lease of 2026 so far.<\/p>\n
<\/p>\n
\n Mayfair in The Grove at 3390 Mary St.\n <\/p>\n
The artificial intelligence-powered platform, which until\u00a0October\u00a0was called\u00a0 Kandji, leased nearly 92K SF at the Mayfair in The Grove complex in Coconut Grove, according to a first-quarter Savills<\/a> office report.<\/p>\n Mayfair Real Estate Advisors Senior Vice President Chris Dekker, who handles leasing for the property,\u00a0confirmed the deal but declined to\u00a0comment further.<\/p>\n Iru took most of the remaining office space at the 288K SF Mayfair in The Grove, a three-building mixed-use\u00a0asset owned by Palm Beach-based Whalou Properties Management.<\/p>\n Iru\u00a0leased office space\u00a0in two buildings at the complex. It signed a 78K SF deal in the east building at 3390 Mary St., the largest lease\u00a0signed during the first quarter, Savills researcher Andrea Duque<\/a> confirmed to\u00a0Bisnow in an email. It also took\u00a014K\u00a0SF in the north building at 2901 Florida Ave.<\/p>\n A spokesperson for Iru declined to comment.\u00a0Stream Realty Partners<\/a>‘\u00a0Carlyle Coffin and Shay Pope, who represented Iru, didn’t respond to a request for comment.\u00a0<\/p>\n The company opened its East Coast headquarters last year in\u00a0a 30K SF office at\u00a0The Plaza in Coral Gables, the South Florida Business Journal previously reported<\/a>. It employs 100 people at the building but quickly decided that wasn’t nearly enough.<\/p>\n \u201cMiami has quickly become one of the fastest-growing and leading technology hubs with a thriving entrepreneurial ecosystem, leading the nation in tech job growth and migration,\u201d Iru CEO Adam Pettit told the SFBJ in December.<\/p>\n Mayfair in The Grove, also known as Streets of Mayfair, mainly consists of retail and is adjacent to the historic 179-room Mayfair House Hotel & Garden.\u00a0<\/p>\n It was originally a mall complex known as the Shoppes at Mayfair, but it was converted to Class-A office space. It now houses advertising agencies, recording lables and the Coconut Grove Arts Festival.<\/p>\n Whalou Properties, led by Timo Kipp, purchased the 288K SF property for $37M in 2010, according to property records.<\/p>\n Kipp last year completed a $37M renovation on the property, including the retail promenade and the lobby, and\u00a0landed a $114M refinancing loan<\/a> from Guggenheim Partners<\/a> Investment Management\u00a0last month.<\/p>\n Mayfair in the Grove\u00a0was 98% leased with an average lease term of roughly eight years, according to a CBRE<\/a> release announcing the refinancing.<\/p>\n Whalou Properties\u00a0didn’t respond to a request for comment.<\/p>\n Miami\u00a0has once again become a magnet for\u00a0headquarters relocations<\/a>\u00a0this year, including Trinity Investments moving its Hawaii headquarters to Coconut Grove. On top of that, companies that\u00a0came to the city a few years ago with a small footprint are\u00a0starting to\u00a0expand<\/a>.<\/p>\n Coconut Grove is at the cusp of that trend. The neighborhood has one of Miami’s lowest vacancy rates, at 7.2%, and some of its highest\u00a0rents, at $75.02 per SF, according to the Savills report.<\/p>\n","protected":false},"excerpt":{"rendered":"Less than a year after it leased its first Miami office,\u00a0information technology and tech security firm Iru has…\n","protected":false},"author":2,"featured_media":215232,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[58536,7527,225,227,226,98185,55483,98184],"class_list":{"0":"post-215231","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hialeah","8":"tag-andrea-duque","9":"tag-coconut-grove","10":"tag-hialeah","11":"tag-hialeah-headlines","12":"tag-hialeah-news","13":"tag-mayfair","14":"tag-savills","15":"tag-stream-realty-partners"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/215231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=215231"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/215231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/215232"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=215231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=215231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=215231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}