Club Studio, a fitness club owned by Fitness International LLC, has secured a lease for a 38,400-square-foot space at Grove Central, a mixed-use development located in Miami’s Coconut Grove neighborhood.
Metro Commercial Real Estate Principal Rod Castan represented the developers in the lease signing, while The Shopping Center Group Partner Jim Petrarca brokered the agreement on behalf of Club Studio.
Developed by Terra Group and Grass River Property, Grove Central is slated for completion in the fall of this year. Touzet Studio is the designer behind the project, while RSP Architects and Local Office Landscape Architecture are leading architectural efforts.
The transit-oriented project is located at the intersection of U.S. Route 1 and 27th Avenue, along the Metrorail corridor at the entrance to Coconut Grove. The development will be integrated with the 13-mile Underline linear park, Miami-Dade’s bus system and Miami’s trolley network.
At full build-out, Grove Central will incorporate 170,000 square feet of neighborhood-oriented retail space, a 23-story residential tower with 402 multifamily, workforce and co-living units, as well as a 1,250-space public parking garage.
Experiential tenants gain momentum
Slated to open its location at the property in 2024, Club Studio is set to become part of Grove Central’s lineup of future occupants, which will also include Target, Sprouts Farmers Market, Total Wine and Five Below. The anticipated opening date for the fitness club is 2024.
The upcoming gym will offer boutique fitness classes, a range of free weights, strength and cardio equipment, a designated area for functional training, as well as cryotherapy and recovery services and locker rooms.
A JLL retail report reveals that experiential tenants, such as theaters, fitness centers, and entertainment venues experienced substantial growth in foot traffic in 2022. Compared to the previous year, there was a 28.7 percent increase in traffic, with theaters and music venues experiencing the most significant gains at 51.8 percent, followed by fitness venues at 26.5 percent.