MIAMI—Blanca Commercial Real Estate has been tapped to lease the BAC Colonnade Office Tower in Coral Gables, just as the building prepares for a series of upgrades. The assignment comes 18 months after Boston-based TA Realty acquired the 205,9250-square-foot building located at 2333 Ponce de Leon Boulevard in downtown Coral Gables.
A series of physical improvements will get underway this quarter and be completed this year, including a remodeling of the tower's entrance lobby, as well as the addition of a fitness center and ground-floor café. Ownership will introduce a new concierge service that will be accessible to tenants 24 hours a day.
GlobeSt.com caught up with Danet Linares, vice chairman of Blanca, to get her thoughts on how BAC Colonnade is keeping up with newer buildings. Beyond the improvements, Linares offers some strategic reasons that are difficult to replicate in part one of this exclusive interview. In part two, Linares will go deeper into the Coral Gables office market.
GlobeSt.com: BAC Colonnade is known as one of the most iconic properties in Coral Gables. How has it been keeping up with some of the market's newer buildings that have come online in recent years?
Linares: Coral Gables is the gold standard for urban, walkable, 24-hour neighborhoods in Miami-Dade County, and the BAC Colonnade has been one of its most desirable addresses for decades. The building's 'main and main' location right on Miracle Mile is unbeatable and a series of renovations in progress will be completed over the coming year, including lobby upgrades and the addition of a new fitness center and ground-floor café. We're also adding a concierge service that tenants can access seven days a week.
GlobeSt.com: What are the BAC Colonnade's standout features?
Linares: Today more than ever, it's all about location—and the BAC Colonnade has the best in all of Downtown Coral Gables, where Miracle Mile and Ponce de Leon Boulevard meet. Downtown Coral Gables is a thriving destination for shopping, dining, and entertainment, and this building is at the center of it all.
Tenants can walk to hundreds of restaurants, boutiques and businesses. We're connected to mass transit options including the Miami-Dade Metrorail system via the Coral Gables Trolley. And with the Westin Colonnade Hotel attached to the building, tenants have access to the hotel's concierge services and facilities, including a fitness center, heated pool, meeting rooms, event ballrooms, et cetera, on top of the building's on-site amenities.
GlobeSt.com: Tell us about some of the tenants that call the BAC Colonnade home.
Linares: The building has always been a top choice for large corporations and entrepreneurial companies. Some of our newest tenants include the Teachers Insurance and Annuity Association of America (TIAA); Medina Capital, a private equity firm founded by South Florida tech pioneer Manny Medina, and the Technology Foundation of the Americas; and Falcon, a financial advisory services company.
We also have Morton's Steakhouse and SUSHISAMBA on the ground floor. Additional leases will be announced in the next 30 days, including a new restaurant tenant along Miracle Mile.
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