MasTec Recommits Long Term To Coral Gables
MasTec isn't leaving Coral Gables anytime soon.
The engineering company just inked a long-term renewal at its Douglas Entrance Office Parc home for 65k SF. The deal at the iconic 800 South Douglas Road building near the Brickell district will continue to be the HQ for its 315 workers locally.
Cushman & Wakefield's Tony Jones, Ryan Levy and Mark Gilbert brokered the deal for MasTec.
“MasTec’s prominence and willingness to commit long term to the Coral Gables submarket and Douglas Entrance Office Parc enabled the company to secure a lease with below-market rental rates, a significant tenant improvement allowance and additional tenant-friendly concessions,” Tony says.
While its rental rate was not revealed, a recent JLL report tags average office rates in Coral Gables at more than $38/SF.