Miami, FL (February 19, 2025) – The Davis Companies (Davis) and Greenmont Group (Greenmont), today announced that they have executed a lease agreement with Chubby Group for 9,600 RSF of retail space at 555 Washington Avenue, a premier commercial office and retail property located in Miami’s vibrant South Beach neighborhood, owned in a joint venture between affiliates of Davis and Greenmont.
Chubby Group, a global food and beverage holding company, is set to open a NIKU X concept restaurant at 555 Washinton Avenue which will feature all-you-can-eat Japanese A5 wagyu beef and high-end seafood as part of the restaurant’s elevated dining experience. This will be the third NIKU X location, following its successful Los Angeles establishment and an upcoming New York City opening. The expansion contributes to Chubby Group’s rapidly growing portfolio, which currently includes 25 multi-concept brands across 30+ locations, with plans to surpass 70 destinations by the end of 2025.
Under Davis’ ownership, 555 Washington Avenue recently underwent an extensive capital improvement program, including a full renovation of the office building’s lobby, common corridors, and bathrooms, as well as exterior painting and a courtyard renovation, improving both the aesthetic appeal and functionality of the property.
“The recent strategic investments Davis made at 555 Washington Avenue have significantly increased the property’s appeal, making it a desirable location for retail and office tenants looking for elevated space in South Beach,” said Davis Allen, Senior Vice President of Asset Management at Davis. “Tenants like Chubby Group align with our vision of fostering a vibrant tenant mix that contributes to the dynamic South Beach community, and we look forward to welcoming NIKU X to the space.”
555 Washington Avenue occupies a prime location in the South Beach neighborhood which accommodates high-end retail, first class office offerings, world-class restaurants, and bustling cultural attractions, ensuring that NIKU X will benefit from South Beach’s attraction to both residents and tourists alike. Current tenants of 555 Washington Avenue include CVS Pharmacy, Warner Music Group, BentallGreenOak, and SK Capital.a