The project's construction cost, estimated rent range and pre-leasing activity weren't disclosed. However, area brokers familiar with the Coral Gables market tell GlobeSt.com the estimated hard cost of the project will be $37.5 million based on current class A office construction costs of at least $150 per sf.
Full-service rents are expected to be in the $29-per-sf to $32-per-sf range, according to RealData Information systems Inc. of Coral Gables.
In a prepared statement, Hines says it expects to start construction in the second quarter of 2002, with initial occupancy scheduled for July 2003.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
