Allen Morris Co. To Move Headquarters To New Mixed-Use Project In Coconut Grove
The Allen Morris Co. has been searching for a development site in Coconut Grove for nearly five years, and it finally sealed the deal for a mixed-use project where it plans to move its headquarters.
The Coral Gables-based developer announced plans for an office, retail and luxury condo project at 3101 Grand Ave., where the Espinosa family has owned and operated Coconut Grove Laundry & Cleaners for more than 60 years.
Spencer Morris, president of the Allen Morris Co., told Bisnow that his firm first connected with the Espinosa family in 2019, discussing a potential development on the 1.7-acre site, and formal negotiations started last year.
“I think we have an aligned vision of what we want to see here,” Morris said. “Something that’s going to be a legacy for the community, and we both intend to own this project together long-term.”
Allen Morris announced that it plans to build an unnamed project with a five-story, 100K SF office building and a three-story luxury condo building, with 40K SF of ground-floor retail space in the two buildings and a rooftop restaurant that overlooks Biscayne Bay. The condo building is planned to hold 20 “ultra-luxury” units priced between $2.5M and $8M.
Morris declined to comment on the projected cost of the development, but he said he expects to start construction in the third quarter of 2025 and deliver by the end of 2027.
Allen Morris plans to move its headquarters to the new office building, occupying 15K SF. The development and investment groups would move to the building, while Morris would keep the existing HQ as a family office in Alhambra Towers in Coral Gables, which it developed in 2001.
“Moving our corporate offices to Coconut Grove is also a defining moment in our 66-year history,” Morris said in a statement.
The Espinosa family has owned the site of their laundry business since 1961, and it is now owned by the Espinosa siblings — Cristina, Manuel, Romulo, Angel Jr. and Charles — through their joint companies, AyME Properties LLC and AyME Florida Avenue Properties LLC.
The name AyME pays tribute to their parents, Angel and Maria Espinosa, who immigrated from Cuba to Miami in 1961 and founded the business, the Espinosa family said in a written statement to Bisnow.
“We believe our parents would be proud of our decision to actively shape the legacy of the property they entrusted to us,” the Espinosa family said. “While change can be challenging, we understand it is inevitable, and we want to play an active role in shaping this transition in a way that benefits the community and honors our family’s history.”
The family plans to open a new off-site location in Coconut Grove. But once the Allen Morris development is complete, the Espinosas plan to operate a drop-off and pickup point in a smaller lobby area on-site, Morris said.
Office leasing will be managed by Cushman & Wakefield’s Ryan Holtzman, Andrew Trench and Brian Gale, alongside the Allen Morris Co.’s Thad Adam. Condominium sales will be run by One Sotheby’s Saddy Delgado, and retail leasing will be led by Vertical Real Estate’s Daniel Cardenas and Michael Sullivan.
UPDATE, NOV. 27, 11 A.M. ET: This story has been updated to include a statement from the Espinosa family.
