Berkadia announced it has arranged the sale of 1715 Douglas, an 0.87-acre development site located at 1715 Southwest 37th Avenue in the heart of Downtown Coral Gables, within walking distance to Miracle Mile, six million square feet of office space, and two million square feet of retail. Senior Managing Directors Roberto Pesant and Jaret Turkell, Director Yoav Yuhjtman, Associate Director Omar Morales, and Associate Jose Mota of Berkadia South Florida marketed the property on behalf of the seller.
A partnership among Miami-based real estate investment firms Torose Equities, Lndmrk Development, and Terranova Corporation has acquired 255 Alhambra, an approximately 220,000-square-foot Class A office building in downtown Coral Gables. The acquisition gives the JV access to one of Miami’s most sought-after office submarkets. 255 Alhambra, located on 1.3 acres on Alhambra Circle, offers top-notch amenities, including floor-to-ceiling windows, a newly renovated lobby, and proximity to Coral Gables’ best restaurants and entertainment. The seller was an affiliate of Deutsche Bank/RREEF. The JV partners plan to further amenitize the property, building on the recent improvements and capitalizing on the demand for Class A office space in Coral Gables.
Coastal Construction Group (Coastal), one of the largest privately held construction companies in the Southeast, has topped out the University of Miami’s Centennial Village, a state-of-the-art student residence that will accommodate over 2,000 students. This is the fourth construction project Coastal has topped out for the University of Miami, including the Thomas P. Murphy Design Studio Building, which won the title of 2018 Building of the Year by World Architects.
Columbus Center, a Class A office complex at 1 Alhambra Plaza in the heart of Coral Gables, has proudly unveiled its recent multi-million-dollar renovation. The modernization, which breathes new life into the first-floor lobby, sixth-floor terrace, and exterior facade of the 261,867-square-foot property, has been meticulously executed. Boasting an array of amenities, the multi-use property offers an on-site gym, the popular Bay 13 Brewery and Kitchen, Micocos Café, ample parking, round-the-clock security, on-site management, dual conference facilities, and a private rooftop terrace.
The Village at Coral Gables is slated for a 2025 or 2026 delivery. The venture, costing close to $68 million to complete, will offer 48 units on a 2.6-acre build site.