Douglas Entrance Office Parc, Coral Gables’ landmark office campus, is undergoing a $7 million makeover. Miami-based Banyan Street Capital, along with capital partner Oaktree Capital Management of Los Angeles, are undertaking the modernization project to restore the property’s iconic status as the original entrance to Coral Gables, all with the goal of maintaining the property’s appeal among top-tier domestic and multinational users.
Construction work has already begun and is expected to be completed over the next year, with upgrades being made to the complex’s common areas and amenities, including its main office lobbies, elevators, corridors, restrooms, parking garage, directional signage, and conference center. Additional improvements include the installation of new artwork throughout the campus, new landscaping in the main courtyard, as well as updated design finishes and furniture. “Douglas Entrance Office Parc is one of the most well-recognized and well-located office properties in Miami, surrounded by some of Miami’s top residential neighborhoods and situated just a few minutes away from Miami International Airport,” said Juan Ruiz, executive vice president of Blanca Commercial Real Estate. “These renovations and improvements will complement the asset’s unique features and illustrate the ownership’s commitment to delivering a premier office campus environment for current and future tenants.”
The six-acre, five-building complex includes a mix of Class A high-rise office towers, street-level retail, boutique office suites and event space. Amenities include a lushly landscaped, WiFi-connected outdoor courtyard plaza; on-site dining and catering; fitness center; meeting and event space; ATM banking; shared tenant conference facilities; complimentary shuttle and car service; and ample deck parking with an above market ratio of 3 spaces per 1,000 square feet. Among the key factors driving tenant interest in Douglas Entrance Office Parc is its convenient location at the entrance to Downtown Coral Gables, at the intersection of Douglas Road (SW 37th Avenue) and SW 8th Street at 800 S. Douglas Road. The property offers fast access to the nearby Miami International Airport, downtown Miami, and major thoroughfares, including the Dolphin Expressway (SR 836), the Palmetto Expressway (SR 826), I-95 and US-1. Dozens of high-end retail shops, restaurants and hotels are in close proximity, with Downtown Coral Gables and the popular Miracle Mile shopping and dining district just a few blocks away and accessible via an on-site Coral Gables Trolley stop.
The property received LEED-Silver certification from the U.S. Green Building Council in 2009, and is listed on the National Register of Historic Places. Available spaces range in size from approximately 1,000 square feet and up, with lease rates between $34 and $36 per square foot. For leasing opportunities, please contact Juan Ruiz or Elizabeth Vergara of Blanca Commercial Real Estate at (305) 577-8850.