CRE Powerhouses Join Forces To Buy Iconic Coral Gables Office Building
The JV partners expect to see strong demand for office space in Coral Gables in the coming months and years, as leases in more expensive office submarkets begin to expire.
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The JV partners expect to see strong demand for office space in Coral Gables in the coming months and years, as leases in more expensive office submarkets begin to expire.
The buyers own Total Research Group (TRG), which performs high-quality clinical trials that lead to the development of lifesaving medical advances.
Hialeah has seen an industrial boom in recent years with 30 million square feet of warehouses and manufacturing plants boasting a vacancy rate of only 1.7 percent, which ranks the lowest amongst the Miami-area submarkets.
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Wells Fargo now occupies two floors totaling approximately 45,000 square feet at Tricera’s 1675 Midtown office building following a 19,000-square-foot lease expansion.
Mark Gilbert, Adam Feinstein, and Mitchell Halpern of Cushman & Wakefield represented the seller in the transaction.
Colliers South Florida Vice President Virgilio Fernandez represented the buyer and seller in the sales transaction.
The 71,000-square-foot project will be anchored by popular supermarket chain Aldi, which will be leasing 19,231 square feet at the center.
Sebastian Juncadella and Jose Juncadella of Fairchild Partners are marketing the project for lease on behalf of Seagis, which expects to deliver the property by the end of the year.
Oasis Hallandale is also home to a commercial district with more than 59,000 square feet of retail and restaurant space, 35,000 square feet of office space and nearly 1,500 parking spaces.
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