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Lease roundup: Pebb’s Sundy Village in Delray Beach, CP’s Miami Tower score tenants
The Real Deal
October 16, 2023
Pebb Capital scored 137,000 square feet of retail and office leases at its Sundy Village project under construction on Delray Beach.

Vertical Bridge, an owner-operator of communications infrastructure, will move its headquarters to a 38,500-square-foot space at Sundy Village, at 22 West Atlantic Avenue, according to a Pebb news release. The firm now is based at 750 Park of Commerce Drive in Boca Raton.

Barcelona Wine Bar took 4,900 square feet, and chef and restaurateur Michael Schulson’s Schulson Collective took 8,800 square feet, the release says. Pebb also will move its headquarters, now in Boca Raton, to a 5,600-square-foot office at Sundy Village.

Joe Freitas and John Criddle of CBRE represented Pebb in the office deals. Sara Wolfe of Vertical Real Estate represented the landlord in the retail leases.

Led by Todd Rosenberg and Todd Benson, Pebb bought the 7-acre development site for roughly $40 million in 2019. The firm is developing 99,000 square feet of offices, more than 28,000 square feet of retail and restaurant space, and a 272-space underground garage, according to the release.

Pebb also will preserve and restore six buildings completed in the early 1900s, including the oldest home in Delray Beach, Sundy House.

Construction started in February and completion is expected in the summer of next year.

Flex office provider Quest Workspaces will open at Miami Tower.

Quest leased 40,800 square feet on three floors at 100 Southeast Second Street in downtown Miami, marking the firm’s fifth outpost in Miami, according to a Quest news release.

Miami Tower at 100 SE Second Street with Quest Workspaces’ Laura Kozelouzek and CP Group’s Angelo Bianco and Chris Eachus

The co-working firm will open the Miami Tower offices in phases. On Nov. 1, Quest will open on the entire 20th level at the 47-story building. This will be followed with the opening of a 38th-floor space in the spring and then a 37th floor space in early 2025, the release says. In total, Quest will offer 173 offices at Miami Tower.

Founded in 2010 by Laura Kozelouzek, Quest has 12 outposts in Florida and New York.

CP Group, formerly called Crocker Partners, and DRA Advisors bought the I.M. Pei-designed Miami Tower last year for $162.5 million, records show.

Agave Holdings scored six tenants at the North Tower of The Plaza Coral Gables mixed-use development.

Business consulting firm Eisner Advisory Group took 7,700 square feet; aviation maintenance products provider Trax USA took 16,200 square feet; law firm Hinshaw & Culbertson took 21,400 square feet; alcoholic drinks and consumer packaged goods business Diageo North America took 8,600 square feet; wealth adviser W.E. Family Offices took 9,000 square feet; and Marriott International took 2,100 square feet, according to a news release from the landlord’s broker. The North Tower is at 2811 Ponce de Leon Boulevard in Coral Gables.

Blanca Commercial Real Estate represented Agave. Newmark’s Clay Sidner and Mitchell Millowitz represented Eisner and Trax USA, respectively. CBRE’s Shay Pope and Jason Mayo represented Hinshaw and Marriott, respectively. Adam Bernstein of JLL represented Diageo.

Agave, a commercial real estate firm with projects in the U.S. and Mexico, developed the roughly 2.6 million-square-foot The Plaza on 7 acres on the southeast corner of Ponce de Leon Boulevard and Sevilla Avenue. The project includes a second office building, the South Tower. The remainder of The Plaza consists of the 242-key Loews Coral Gables Hotel, 170 apartments, a 2,000-space garage, 165,000 square feet of retail and restaurant space, and a landscaped plaza.

Private school Brightmont Academy will open at the Shoppes at Yamato Corner near Boca Raton.

The school leased a 4,000-square-foot space on an outparcel previously occupied by a bank at the plaza on the southeast corner of State Road 7 and Yamato Road in unincorporated Palm Beach County, according to a news release from the landlord’s broker. Brightmont Academy is expected to open in the second quarter.

Nicole Fontaine and Leandro Pereira of Katz & Associates represented the landlord. Brian Schmergal and Tara England of Cushman & Wakefield represented Brightmont Academy.

CenterSquare Investment Management, based in Plymouth Meeting, Pennsylvania, owns the building at 19102 South State Road 7, according to records.