Optimum Group, a global real estate investor and leading developer, hosted a formal groundbreaking ceremony and champagne reception to celebrate the construction commencement of The Optimum, a new class A office tower in Coconut Grove. Mayor Tomás Pedro Regalado spoke briefly on Coconut Grove’s rich history and Optimum’s commitment to enhance the neighborhood’s revitalization as well as company’s ongoing contribution to evolve South Florida communities and growing businesses.
“As the first new Class A office building in over 25 years that fulfills the much-needed commercial and retail component in the center of one of Miami’s most historic community, ‘The Optimum’ is our response for those who are looking to live, work and play in the neighborhood,” said Ricardo Tabet, ceo of Optimum Group. “The space will not only complement The Groves’ lush landscaping and understated aesthetic, but will contribute to the neighborhood’s electrifying renaissance.”
The Optimum is a 5-story, class A office tower in the heart of the Grove. The Optimum is being designed by Arquitectonica, who took cues from Coconut Grove lush folliage including raking the buildings’ facades in natural cement and wood to blend seamlessly into Coconut Grove. The development will entail 44,000 SF of office space and 6,500 SF of ground floor restaurant space which is expected to feature a high-end restaurant along with a rooftop lounge that offers dramatic, panoramic views of Biscayne Bay. Optimum Development USA paid $8.5 million for the assemblage in 2014 and has since taken a $21.5 million loan on the property. The Optimum is located at 3480 Main Highway in Coconut Grove and is expected to be completed by 2018 with occupancy in just 16 months.