Downtown Miami and Brickell might be hot office markets, but Coral Gables has a heat all its own, Blanca Commercial Real Estate EVP Juan Ruiz tells us. That’s because of what it offers to both large corporate tenants as well as smaller operations, including easier access to MIA than from Downtown or Brickell, as well as better proximity to South Miami-Dade, an important consideration for recruiting workers from there. (Never underestimate the power of an easy commute.)
Coral Gables is coveted by executives and employees alike, Juan says. Recently Miami-based Banyan Street Capital and Oaktree Capital Management of LA tapped Blanca as the leasing agent for the 467k SF Douglas Entrance Office Park in Coral Gables, a mix of high-rise office towers, street-level retail, office suites, and event space. Not long before, Banyan and Oaktree bought the property for about $101M, and it has a tenant roster that includes MasTec, Simply Healthcare and AECOM.
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