MIAMI - 396 Alhambra, Agave Holding’s new Class-A office and retail complex located in the heart of Coral Gables, Florida, has reached 82% occupancy just two years after opening its doors. The 282,000 square foot development, which opened in 2011, achieved the 82% occupancy mark upon completing two new office leases totaling 10,041 square feet of office space.
The building’s ownership finalized two new lease agreements with Miami-based boutique community bank Professional Bank and artisan bakery and gourmet restaurant Chocolate Fashion. They will occupy a combined 10,042 square feet of space at 396 Alhambra, with Professional Bank leasing a total of 8,081 square feet and Chocolate Fashion leasing a total of 1,961 square feet. Professional Bank will relocate its Miami headquarters from a nearby South Coral Gables office building. Financial terms of the agreements were not disclosed.
Danet Linares and Andres del Corral of Blanca Commercial Real Estate, exclusive leasing agent for 396 Alhambra, represented landlord Agave Holdings, LLC in the transactions. Jon Bourbeau of Newmark Grubb Knight Frank and Key Realty Advisors, Inc. represented Professional Bank, while Jorge Pinto of Key Realty Advisors, Inc. represented Chocolate Fashion.
“The addition of Professional Bank and Chocolate Fashion reinforces 396 Alhambra’s position as the ‘go-to’ building for premium corporate tenants eyeing a presence in the South Florida market or expanding here,” said Danet Linares, executive vice president of Blanca Commercial Real Estate.
396 Alhambra is also home to a roster of existing corporate and multinational tenants that includes Tiffany & Co., Diageo, HBO Latin America, Mondelēz International, Millicom International Services, law firm Richman Greer, P.A., Banco Pichincha, CitiBank, N.A., and architecture firm RTKL Associates. All told, the development is now approximately 82% leased.
“With first class design elements, an unbeatable location, and a growing roster of premium tenants, 396 Alhambra has become the office address of choice for multinational users seeking a Class A location in Coral Gables,” said Hector Fernandez, CEO of Agave Holdings, LLC.
Designed by Miami-based architectural firm The Fullerton Group and constructed by Balfour Beatty, 396 Alhambra boasts Spanish-influenced architecture and top-quality building materials, including marble from the original quarry for the Alhambra palace in Spain. The development offers spectacular views and flexible floor plates ranging from 8,950 to 31,000 square feet. Amenities include secure, ample covered parking in an eight-story parking garage, concierge service, 24-hour security with card-key access, an on-site Citibank branch, 34,000 square feet of prime restaurant and retail space and a beautifully landscaped outdoor terrace and courtyard for the enjoyment of all tenants.
Learn more at www.396alhambra.com. For leasing information, please contact Danet Linares or Andres del Corral of Blanca Commercial Real Estate at (305) 577-8850.
About 396 Alhambra:
396 Alhambra is a $140 million, 282,000 square foot Class A office and retail complex in Coral Gables, Florida’s business district. The two-tower development consists of approximately 248,000 square feet of office space and 34,000 square feet of prime ground-floor retail space, and is certified by the U.S. Green Building Council at the LEED Gold level. Developer Agave Holdings, LLC owns and operates more than three million square feet of institutional-grade real estate in Mexico and one million square feet in the U.S. Learn more at www.396alhambra.com and www.agaveholdingsllc.com.