The rent range is among the highest to date in metro Miami-Dade County. Cushman & Wakefield of Florida Inc. puts the average asking Downtown rent at $27 per sf.
The leases, totaling 54,800 sf, have an estimated total value of $7.95 million and bring the building's occupancy to 50%. Codina Group and its subsidiaries occupy 36,000 sf. The building is the first class A office structure to come online in Coral Gables since 1999.
The new tenants are Zubi Advertising, 24,000 sf; International Life Services, 2,800 sf; represented by Jennifer Panton of Codina Realty; Lott & Friedland, 8,000 sf, represented by Donna Abood of Abood & Associates; Spencer Stuart, 10,000 sf, represented by Richard Cooper of Grubb & Ellis; Qwest Communications, 3,000 sf, represented by Edgar Jones of Grubb & Ellis; and Vestrust Services, 7,000 sf, represented by Jose Juncadella of Codina Realty Services.
Jack Lowell, Codina Realty Services vice chairman, and Panton represented the property owner.
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