Downtown Miami’s Citigroup Center Inks Deal With Cactus Club Cafe for 10,000-SF Restaurant and Lounge on Ground Floor

MIAMI–(BUSINESS WIRE)–Oct 18, 2023–

Citigroup Center, a 810,000-square-foot, 34-story trophy tower in Downtown Miami and the second-largest Class A office building in the state of Florida, today announced a leasing agreement with Cactus Club Cafe for a 10,000-square-foot, indoor/outdoor restaurant and lounge.

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Citigroup Center in Downtown Miami (Photo: Business Wire)

With 34 locations across Canada, Cactus Club Cafe is a restaurant collection serving up contemporary dining experiences that feature global and local cuisines. As part of their U.S. expansion, Cactus will open its first Florida location at Citigroup Center. Cactus is highly regarded for its menu, service, and vibe. The concept is brought to life through a warmly modern, versatile interior and exterior design, a service philosophy focusing on spirited hospitality, and elevated yet approachable flavor profiles throughout the menu. The restaurant will feature immersive lighting and curated art and will offer outdoor patio seating, providing indoor and outdoor dining experiences for the building’s tenants and the broader Brickell community.

“Citigroup Center is the perfect location within downtown and Brickell to launch our Cactus flagship restaurant in Miami,” says Cactus Club Cafe President Andrew Latchford. “Whether lunch, happy hour, dinner or late night, this state-of-the-art Cactus location will be inviting and approachable to the wide variety of building tenants and area diners, offering something for everyone – no matter the occasion.”

Citigroup Center is currently undergoing lobby renovations, and has also recently developed and successfully leased 37,000 square feet of spec suites, each ranging in size from 1,900 to 9,000 square feet. The property also announced a rebrand earlier this year – with new logo, website and branding – formed around a “Built for Success” concept.

Lyle B. Stern and Sara Wolfe of Vertical, a Miami-based boutique real estate company focused on food and beverage brands and aspirational retail, represented the landlord in the transaction. Taryn Brandes and Emily Green of Brand Urban, a retail real estate brokerage and advisory company based in Manhattan, represented the tenant as Cactus Club’s national master broker and partnered with Michael Sullivan and Sam Singer of Vertical.

“In addition to truly activating Citigroup Center’s ground floor, which constitutes today’s ultimate office amenity, Cactus Club Cafe is poised to become a dining destination in downtown Miami,” said Lyle B. Stern. “The restaurant’s dozens of Canadian locations have become sought-after locations for business lunches, happy hours and more. We’re confident that the restaurant’s lively atmosphere will attract Miami’s professionals and become a welcome addition to the city’s renowned culinary scene.”

Current amenities at Citigroup Center include an on-site car wash; valet parking; an ATM; a 9,000-square-foot, state-of-the-art conference center; dedicated, on-site Tenant Services Coordinator; fully integrated tenant experience app; and immediate, interior access to the connected Intercontinental Hotel’s fitness center and spa, along with an outdoor meeting and events space with a Skylawn and rooftop pool.

The tower’s prime location on the corner of Biscayne Boulevard and Southeast 2nd Street in the heart of downtown Miami offers tenants immediate access to I-95, Brickell Avenue, Bayfront Park Metromover Station, and the MacArthur Causeway, and close proximity to the Brightline’s Miami Central Station, South Beach, and Miami International Airport (MIA). Steven Hurwitz, Doug Okun, and Madeline Fine of JLL represent the landlord in the leasing of Citigroup Center.

To learn more about the property, visit www.citigroupcenter.com.

About Monarch Alternative Capital LP

Monarch Alternative Capital LP is a global investment firm founded in 2002 with approximately $9 billion in assets under management. Monarch focuses primarily on opportunistic and distressed situations across corporate debt, real estate, special situations, and other market segments. Monarch draws on the skills and experience of its employees across its offices in New York and London. For more information, please visit www.monarchlp.com.

About CP Group

Active in the commercial real estate business for over 35 years, CP Group has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Since 1986, CP Group has acquired and managed over 165 properties, totaling over 56 million square feet, valued at nearly $8 billion. It is currently Florida’s largest and Atlanta’s second-largest office landlord and ranks 25th largest in the United States. Headquartered in Boca Raton, Florida, the firm has a corporate office in Atlanta and regional offices in Denver, Miami, Jacksonville, Dallas, and Washington DC. To learn more about the company, visit CPGcre.com.

About Tourmaline Capital Partners

Tourmaline Capital Partners is a Philadelphia-based vertically integrated real estate development firm formed in early 2021 that focuses on office investments throughout the Continental United States. Tourmaline is a founder-led firm with a mission to provide best-in-class work environments because that is where companies thrive long-term. Tourmaline’s workspaces are designed and operated to help employers attract and retain talent, facilitate in-person collaboration, and foster community and culture. Tourmaline, along with its capital partners, has acquired over 4.2 million square feet since inception.

View source version on businesswire.com:https://www.businesswire.com/news/home/20231018207170/en/

CONTACT: Jordan Rankin, Antenna Group

646.887.2699

[email protected]

KEYWORD: FLORIDA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: RETAIL COMMERCIAL BUILDING & REAL ESTATE RESTAURANT/BAR CONSTRUCTION & PROPERTY

SOURCE: CP Group

PUB: 10/18/2023 02:00 PM/DISC: 10/18/2023 02:02 PM