Tech Firm Leases 92K SF In Miami, Tripling Size Of New East Coast HQ
Less than a year after it leased its first Miami office, information technology and tech security firm Iru has nailed down a huge expansion in the biggest local office lease of 2026 so far.
The artificial intelligence-powered platform, which until October was called Kandji, leased nearly 92K SF at the Mayfair in The Grove complex in Coconut Grove, according to a first-quarter Savills office report.
Mayfair Real Estate Advisors Senior Vice President Chris Dekker, who handles leasing for the property, confirmed the deal but declined to comment further.
Iru took most of the remaining office space at the 288K SF Mayfair in The Grove, a three-building mixed-use asset owned by Palm Beach-based Whalou Properties Management.
Iru leased office space in two buildings at the complex. It signed a 78K SF deal in the east building at 3390 Mary St., the largest lease signed during the first quarter, Savills researcher Andrea Duque confirmed to Bisnow in an email. It also took 14K SF in the north building at 2901 Florida Ave.
A spokesperson for Iru declined to comment. Stream Realty Partners' Carlyle Coffin and Shay Pope, who represented Iru, didn't respond to a request for comment.
The company opened its East Coast headquarters last year in a 30K SF office at The Plaza in Coral Gables, the South Florida Business Journal previously reported. It employs 100 people at the building but quickly decided that wasn't nearly enough.
“Miami has quickly become one of the fastest-growing and leading technology hubs with a thriving entrepreneurial ecosystem, leading the nation in tech job growth and migration,” Iru CEO Adam Pettit told the SFBJ in December.
Mayfair in The Grove, also known as Streets of Mayfair, mainly consists of retail and is adjacent to the historic 179-room Mayfair House Hotel & Garden.
It was originally a mall complex known as the Shoppes at Mayfair, but it was converted to Class-A office space. It now houses advertising agencies, recording lables and the Coconut Grove Arts Festival.
Whalou Properties, led by Timo Kipp, purchased the 288K SF property for $37M in 2010, according to property records.
Kipp last year completed a $37M renovation on the property, including the retail promenade and the lobby, and landed a $114M refinancing loan from Guggenheim Partners Investment Management last month.
Mayfair in the Grove was 98% leased with an average lease term of roughly eight years, according to a CBRE release announcing the refinancing.
Whalou Properties didn't respond to a request for comment.
Miami has once again become a magnet for headquarters relocations this year, including Trinity Investments moving its Hawaii headquarters to Coconut Grove. On top of that, companies that came to the city a few years ago with a small footprint are starting to expand.
Coconut Grove is at the cusp of that trend. The neighborhood has one of Miami's lowest vacancy rates, at 7.2%, and some of its highest rents, at $75.02 per SF, according to the Savills report.
