Mayfair in the Grove Nears Completion, Signs Swerdlow

COCONUT GROVE, FL-As the transformation of the Mayfair in the Grove here nears completion, the project has signed Swerdlow Real Estate Group on as a long-term tenant, and the first tenant, Crispin Porter + Bogusky, has moved into its 42,000-sf space. The two tenants make the project almost 40% leased.

Mayfair in the Grove was formerly called The Streets of Mayfair. The renovation project involves converting the two upper floors of retail space into class A office space, featuring a private, first-floor lobby. All of the retail shops, restaurants and clubs at the renowned development are relocating to the street level.

The total project size is 240,000 sf, which includes 120,000 sf of new office space and 120,000 sf of retail space. The project, bounded by Grand Avenue, Florida Avenue and Mary Street, includes 937 spaces of office parking.The renovation cost more than $6 million. Lease rates are $25 to $30 per sf, full service.