MAYFAIR IN THE GROVE SHOWS STRONG LEASING ACTIVITY
DURING THIRD QUARTER 

Coconut Grove, FL – September 2, 2011 – Mayfair in the Grove played host to one of the largest lease transactions in Coconut Grove in several years with the lease renewal of Crispin Porter + Bogusky (CP+B) for 69,685 square feet. The advertising agency renewed their lease on the entire third floor for an 11-year term. CBRE brokers Noel Steinfeld and Chris Dekker provided representation on behalf of the landlord, Whalou Properties, while Walter Byrd of Transwestern represented the tenant.

“Whalou Properties is very pleased to retain the tenancy of a high profile firm such as Crispin Porter,” said Christopher Dekker, a Senior Associate with CB Richard Ellis. “The appeal of Mayfair’s creative atmosphere is enduring, as more and more tenants seek a live-work-play environment.”

Mayfair is also pleased to announce a new 4,506-square-foot lease by EF Language Schools (d.b.a. Hult International Business School) and a 3,458-square-foot renewal by the Coconut Grove Arts Festival. Hult, a top international business school represented by Diana Parker of Cushman & Wakefield is expanding their footprint in North America. The Coconut Grove Art Festival has been at Mayfair for several years and has become synonymous with the Mayfair showcasing local artistic talent and hosting numerous art festivals including the renowned Coconut Grove Arts Festival every year. Steinfeld and Dekker negotiated both transactions on behalf of Whalou Properties.

Whalou Properties acquired the property in late 2010. “We are fortunate to have local ownership that is committed to maintaining Mayfair’s prestigious and innovative character,” said CBRE First Vice President Noël Steinfeld.

Located at 2911 Grand Avenue in Coconut Grove, Mayfair in the Grove is a 267,175-square-foot retail/office property with such acclaimed tenants as SONY Music, Miami Conservatory of Music, and Leo A Daly. Situated on the cross streets of Grand Avenue and Virginia Street, Mayfair in the Grove is located close to Downtown Miami, Coral Gables, and is within minutes to US-1. 
 

About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.

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