Law Firm Announces Acquisition Of Coral Gables Office Building For Expansion Of Headquarters
The multimillion-dollar purchase, redevelopment, and headquarters expansion project, will be named “Counsel Commons.”
The multimillion-dollar purchase, redevelopment, and headquarters expansion project, will be named “Counsel Commons.”
Healthcare real estate is often referred to as recession proof, and as many industries reduce their commercial footprint, medical groups and physicians are betting big.
CBRE Executive Vice President Gordon Messinger represented the developer and owner, Millennium Partners, in lease negotiations.
The Gateway at Wynwood was represented by Colliers’ Executive Managing Director Stephen Rutchik, Managing Director Tom Farmer and Director Tyler de la Pena in the office lease transaction.
Under the proposed special area plan, Sunbeam Properties would build 1,936 residential units, including 117 units of workforce housing, 870,000 square feet of office/retail space, a 112,500-square-foot hotel with about 300 rooms, and about 5,000 parking spaces.
The office building is nearly 70 percent leased ahead of its late-2022 completion.
Cushman & Wakefield’s Brian Gale, Andrew Trench, and Ryan Holtzman represented the landlord, Nuveen Real Estate, in the lease negotiations and Transwestern’s Glenn H. Gregory represented the tenant.
The project will provide 320K SF of Class-A office space and 80K SF of functional outdoor space. It will stretch over a 2-acre block between Northeast 42nd and 43rd streets and between Northeast Second and Fourth avenues.
Future renovations planned include further upgrades to the building lobbies, additional building amenities, a new state-of-the-art conference facility, and continued upgrades to the common areas and restrooms.
Gordon Messinger, an Executive Vice President with CBRE, will lead the marketing efforts.
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