MIAMI—396 Alhambra continues its hot leasing streak early this year. Blanca Commercial Real Estate just signed a 15,600-square-foot lease to Mondelez International, a chocolate, biscuits, gum, candy, coffee, and powdered beverages company, in the office building’s North Tower. The Coral Gables office will serve as the company’s Latin American headquarters.
“Mondelez International becomes the latest example of a global corporation with an existing Coral Gables presence that has decided to upgrade to the city’s premier building,” says Jose Antonio Perez Helguera, managing director of Agave Holdings. Agave developed the mixed-use office and retail complex, which is more than 70% leased less than one year after delivering to market. Mondelez International is relocating from nearby 355 Alhambra.
Mondelez is the former global snacking and food brands of Kraft Foods. The company’s portfolio includes a number of billion-dollar brands, including Cadbury and Milka chocolates, Jacobs coffee, LU, Nabisco and Oreo biscuits, Tang powdered beverages, and Trident gums. In Latin America, the company employs more than 32,000 people, and its regional business currently accounts for approximately $5 billion of the company’s $36 billion global annual revenues.
Danet Linares and Andres del Corral of Blanca Commercial Real Estate represented landlord 396 Alhambra, LLC in the transactions. Chris Porter of Cushman & Wakefield and William Holly, formerly of Cushman & Wakefield and now with Pointe Group Advisors, represented Mondelez.
“We are experiencing a high volume of interest from tenants seeking a centrally located building with high quality infrastructure and finishes backed by well-capitalized ownership,” Linares tells GlobeSt.com. “396 Alhambra is on its way to being 90% leased less than one year after opening its doors.”
Home to 282,000 square feet of class A office and prime street-level retail and restaurant space, 396 Alhambra is the largest mixed-use project to take shape in Coral Gables in years. Tenants include Diageo, HBO Latin America, Millicom International Services, law firm Richman Greer, P.A., Banco Pichincha, CitiBank, N.A., and architecture firm RTKL Associates.