Carol Ellis-Cutler, VP of Miami-based Abood Wood-Fay Real Estate Group, represented owner Douglas Road Partners LLC in the negotiations for this and the previous office leases in the eight-story building. Terms of the lease are undisclosed. Fourth-quarter data from the Miami office of Trammell Crow Co. puts the average asking rate for office space in this market at $26.54 per sf. Corresponding data from the area office of Grubb & Ellis delineates an average asking range of from $24.80 per sf to $29.34 per sf.
Office space in the recently redeveloped Douglas Grand is loft-style with 21-foot ceilings. It also has covered parking and a security access system. The property also contains a 47,000-sf Publix Supermarket, which replaced an Albertson's there in 2003, and 164 rental apartment units.
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