CBRE has been appointed by USAA Real Estate Company (“Realco”), one of the largest owners of Class A office space in Coral Gables, as the exclusive leasing agent for “The Alhambra,” a landmark, Mediterranean-style office complex located at the eastern gateway to Coral Gables in Miami, Florida. CBRE’s Maggie Kurtz, Senior Vice President, and Diana Parker, Senior Vice President, are the leasing agents.
The Alhambra consists of two office properties – a 230,000-square-foot, 14-story office tower located at 2 Alhambra Plaza and a 95,000-square-foot, 7-story property at 95 Merrick Way. Both buildings are connected to the Hyatt Regency Coral Gables, a four-star, 250-room hotel. The Alhambra is conveniently located within walking distance to dozens of restaurants, hotels and retail shops.
Two Alhambra’s lobby was renovated in 2011, and further enhancements are underway to enhance and add value to the tenant experience. “One of the top criteria prospective office tenants seek in Miami are views,” said Kurtz. “Two Alhambra is one of the few office buildings in Coral Gables that can boast unobstructed views of Miami’s downtown skyline and water views. Two Alhambra also has exterior building signage as well as monument signage opportunities which are a tangible ‘value add’ to attract quality tenants.”
Added Parker, “In addition to building and area amenities, important today in a prospective tenant’s selection of location is the caliber of ownership. Realco brings quality institutional ownership with a documented track record of excellent service in Miami.”
CBRE will be implementing an aggressive marketing campaign in order to best position The Alhambra for prospective tenants. Leasing opportunities ranging from 2,000 square feet to 35,000 square feet are available immediately.
With this new assignment, CBRE now handles the leasing for all Realco-owned office properties in Miami-Dade County, totaling 1 million square feet of Class A office space. “Maggie (Kurtz) and Diana (Parker) think like owners,” said Trey Guajardo, Executive Director, Asset Management for USAA Real Estate Company. “Their fresh and strategic approach to marketing, combined with their extensive experience, have resulted in quality tenants. We are extremely committed to Miami-Dade and Coral Gables, so when making the selection for new leasing representation at The Alhambra, Realco’s paramount consideration was to select a firm and a team that matched the caliber and integrity of Realco’s product.”
Realco began its leasing relationship with Kurtz and Parker in 2010 when they were hired to lease the 261,000-square-foot Columbus Center, located across the street from The Alhambra. Within the first year, they secured a 62,000-square-foot headquarters lease with Gibraltar Private Bank. Realco selected Kurtz and Parker again to lease Datran Center, two of the largest Class A office buildings (totaling over 478,000 square feet) outside of Miami’s central business district.
About USAA Real Estate Company
USAA Real Estate Company, with approximately $12 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Co. is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.