CORAL GABLES, FL-Blanca Commercial Real Estate has won the favor of 396 Alhambra LLC. The Blanca team will exclusively represent 396 Alhambra, a mixed-use office and retail development underway in the heart of Coral Gables’ Business District.
The 396 Alhambra Office project totals 273,000 square feet, including 30,000 square feet of ground-floor retail and restaurant space. There is also an attached eight-story parking garage. The property’s seven-story South Tower totals 87,000 square feet and will be ready for occupancy in April 2011. The 156,000 square foot, 15-story North Tower is under construction and will come on line by the fourth quarter.
Blanca Commercial Real Estate Executive Vice President David Valdez will spearhead marketing and leasing for 396 Alhambra, with the support of Executive Vice President Danet Linares and Associate Andres del Corral. “Coral Gables has traditionally been the home of many international headquarters that want access to the neighborhoods, schools and quality of life there,” Valdez tells GlobeSt.com. “We’re going to market this asset to global corporate users.”
Blanca has a head start. The assignment follows the recent news that international architecture firm RTKL Associates leased 10,000 square feet of space in the project’s South Tower, joining Citibank as a major tenant in the building. Blanca also has another advantage: 396 Alhambra stands out as the only new class A office development to deliver in Coral Gables in 2011.
Eddie Avila, manager of project developer 396 Alhambra, LLC, says Blanca Commercial Real Estate was selected in large part for its track record of success leasing other trophy assets across South Florida, for its long-term relationships in the corporate and brokerage communities, and expertise in the regional marketplace. With the 396 assignment, Blanca is now leasing trophy assets in Miami’s three largest business hubs: Coral Gables, Downtown/Brickell and Doral.
“We are already seeing a steady flow of serious interest among quality tenants who are drawn to 396 Alhambra’s top location, class A amenities, finishes, and strong ownership,” Avila says. “We believe the Blanca team is the best equipped to maximize the project’s visibility and positioning in the marketplace.”
Beyond its convenient setting, 396 Alhambra stands out for its LEED certification and environmentally sustainable design. The project’s North Tower has been pre-certified LEED Gold by the United States Green Building Council and the existing South Tower has been pre-certified LEED Silver.
“We believe this building is absolutely in the sweet spot for the careful, thoughtful tenant to consider leasing space,” Valdez says. “We have tremendous flexibility in terms of how we could accommodate a large tenant on one floor with 31,000 square feet, as well as the smaller tenants that are under 10,000 square feet. This is an awesome asset.”
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