One of Coral Gables’ architectural landmarks has been transformed into the city’s newest class A office building.
The owners of 396 Alhambra, a 273,000 square foot mixed-use office and retail development underway in the heart of the Coral Gables, have announced the completion of the project’s South Tower, a 7-story, 87,000 square foot office building.
The announcement follows a dramatic renovation and modernization that converted the building into luxury class A office space. Delivery of the South Tower paves the way for the completion of 396 Alhambra’s second phase, a newly-constructed 15-story building which will include 156,000 square feet of office space. The project also includes 30,000 square feet of prime ground-floor retail and restaurant space. 396 Alhambra stands alone as the only newly-constructed class A office development to deliver in Coral Gables in 2011.
The project’s South Tower delivers to market with 30,000 square feet of office space already leased:
- RTKL Associates, the international architecture and planning firm, moved into 11,652 square feet of space in the project’s South Tower, (represented by Alan Kleber of Cushman & Wakefield of Florida).
- Terra Networks, the internet arm of Telefόnica Group, leased 9,000 square feet of space with plans to take occupancy of its new premises this October (represented by Campbell Real Estate Advisory Group, Inc.).
- Citibank, N.A., currently occupies 5,003 square feet of space in the project’s South Tower and will relocate to the North Tower in 2012.
- KabooKaboo, a marketing and communications firm, leased 3,905 square feet of office space in the project’s South Tower.
Construction of 396 Alhambra began in early 2009. Renovations to the South Tower included the replacement of the building’s windows with hurricane-resistant impact glass; an overhaul of its plumbing and HVAC systems, elevator cabs, and electrical components; and the addition of premium finishes throughout all of the building’s common areas. An existing three-story parking garage was replaced by a new eight-story garage providing access to both the North and South Towers.
As a result of these upgrades, 396 Alhambra’s South Tower is on track to achieve LEED Silver certification, with the neighboring North Tower pre-certified at the LEED Gold level.
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