Terrabank Signs On For 40,000 SF Of Office Space In Coral Gables
The deal represents a significant expansion from Terrabank’s previous 27,068-square-foot office on Coral Way.
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The deal represents a significant expansion from Terrabank’s previous 27,068-square-foot office on Coral Way.
The triple net lease is for 11,000 square feet.
The sale marks a substantial increase in value from the portfolio’s previous trade in 2016, when it sold for $77.25 million.
The deal was handled exclusively by CBRE’s Larry Genet, Tom O’Loughlin, Michael Oretsky, Devin White, Jose Lobon and David Albert.
The two-story retail property spans 128,779 square feet and occupies nearly an entire block along one of the country’s most exclusive shopping streets.
CBRE’s Tyler Kuhlman, Luke Hansen and C’jon Armstead represented the sellers as well as the buyer in the transaction.
The Florida City property is a fully leased multi-tenant retail center anchoring a mix of service-oriented businesses.
The property sits on approximately 7.41 acres and is currently configured as a single-tenant office building.
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The newly acquired assemblage spans multiple properties along North Andrews Avenue, totaling more than 20,000 square feet of existing commercial space.
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