Iru, the IT-security company that rebranded from Kandji last year, is taking nearly 92,000 square feet of office space at the Mayfair in the Grove complex in Coconut Grove. The move expands the firm's East Coast footprint after it established a Coral Gables headquarters in 2025 and ranks as one of Miami's largest office leases so far this year.
According to Commercial Observer, Iru signed two leases totaling 91,959 square feet: about 78,000 square feet at 3390 Mary Street and roughly 13,959 square feet at 2901 Florida Avenue inside the mixed-use Mayfair complex. Citing a Savills first-quarter report, the outlet notes the breakdown gives Iru a serious beachhead in one of Coconut Grove's most visible office properties.
Mayfair's upgrade pays off
The Mayfair complex, a roughly 288,000-square-foot property that recently wrapped a multi-million-dollar renovation, is already seeing that investment translate into big checks. In March, it landed a $113.6 million refinancing from Guggenheim. The Real Deal reports the asset is owned by an entity tied to Whalou Properties' Timo Kipp and was nearly fully leased at the time of the refi. Landlord representatives say the upgrades and long lease terms helped seal the financing.
Why Iru is doubling down on South Florida
Iru's Coconut Grove expansion follows the company's October 2025 rebrand and a strategic push around its AI-focused IT and security platform. In a company press release, CEO Adam Pettit framed the relaunch as a move to "collapse the stack" and unify identity, endpoint security and compliance tools. Local reporting by Refresh Miami notes Iru opened an East Coast headquarters at The Plaza Coral Gables in 2025, where it initially leased about 30,000 square feet.
What this means for the local market
Coconut Grove is among Miami-Dade's tightest office submarkets, with vacancy hovering near the county's lowest levels and asking rents above $75 per square foot, according to Commercial Observer's read of Savills data. That scarcity helps explain why landlords who invested in upgrades are now landing large corporate tenants. Market watchers say marquee tech leases like Iru's can further fuel demand for high-quality, amenitized office space in the neighborhood.
Neither Iru nor Whalou Properties responded to requests for comment about the new deals, as reported by The Real Deal. The Savills report cited by brokers did not disclose rental rates or move-in dates, leaving some of the operational details around Iru's new Coconut Grove footprint still under wraps.
