The firm's new asset totals more than 530,000 square feet and includes such national tenants as Whole Foods, lululemon, L.L. Bean, Crate & Barrel, Pottery Barn, Sephora and Williams Sonoma.

The Art Plaza twin-tower is Melo Group's third transit-oriented project in Miami's Arts & Entertainment District, and a fourth is underway.

The firm, fresh off its announcement last month that it had initiated a $12-billion investment strategy for its student housing and residential divisions, has hired real estate veteran Russell Brenner as president of the new medical office and life sciences entity.

Even if a tenant doesn't have public financials, there are signs that it could be in trouble.