A selection of memories shared on Facebook and Instagram:
"Jack was one of my first clients on South Beach back in '96. What a legacy he's left on South Florida as a whole! He will be sorely missed," New Times senior account executive Kristi Kinard shared on Facebook.
"Once upon a time I was concerned with being Kool and important, this guy use to let me act a fool up in there, epic times rip amigo," Michael Sucevic wrote.
The tributes on Instagram were equally heartfelt.
"I had the best time in my life, for years, in Nikki Beach, even after they rebranded. I hope he's OK [in] Heaven with his daughter," wrote Jannely Espinal.
"He was generous. I enjoyed my years when I worked for him in the late '90s at Nikki Beach and Pearl," Cesar Aguado added.
"Many good times in Penrod's back in the day, Thank you for your contribution my friend RIP," wrote 305simplify.
Penrod's wife, Nikki Beach CEO Lucia Penrod, also shared a statement regarding her husband's death:
"I shared an extraordinary life with Jack. As a life partner, father, and businessman, he was everything one could ever dream of. Jack was humble, loving, intelligent, and kind — genuine to his core, with an adventurous spirit that was truly magnetic. His children and I loved him deeply, and we will keep his spirit alive through years of cherished memories. He meant so much to so many, leaving a lasting impact on everyone he met. He inspired people to reach for the stars and never give up. It was my deepest privilege to be his wife. We will continue to spread happiness and love for family and friends all over the world and he will live forever in our hearts."
The family asks that, in lieu of flowers, a donation be made in his memory to the nonprofit charity he founded, Nikki Cares.