Terra Group Completes Coconut Grove Office Building
The 77,840-square-foot office component of the Class A building in Miami is already fully leased.
Terra Group, in partnership with Mayfair Advisors, has completed the construction of Mary Street, a Class A office building in Miami’s Coconut Grove.
The seven-story development was transformed from a parking garage into a modern office property by architect Touzet Studio and recently received its temporary certificate of occupancy. The developers broke ground on the project in 2017 after receiving $32 million in construction financing.
Located at 3310 Mary St., a gateway entrance to the Coconut Grove Village Center, the property is less than 1 mile west of Miami City Hall and within walking distance of CocoWalk, an open-air mall undergoing renovations. Coconut Grove Station is 1.2 miles north.
Mary Street has 77,840 square feet of office space, 18,000 square feet of retail and a three-level parking garage. The building features column-free floorplates ranging from 19,000 to 29,000 square feet and a parking ratio of three spaces per 1,000 square feet. Amenities include electric car charging stations, bicycle stations and dedicated elevators with direct office access.
The building’s office component is fully leased, with Kaufman Rossin as anchor tenant. The CPA advisory firm will occupy 64,666 square feet at Mary Street starting in mid-2020. The remaining 13,174 square feet will be used by Terra as a corporate office. Retail tenants include Jaguar Therapeutic, OXXO Cleaners, AIDA restaurant, The Workout Spot and Coconut Grove Smile.
