MIAMI—Coral Gables' famed Douglas Entrance fetched $100.75 million when it traded just over a year ago. Now, Banyan Street Capital and Oaktree Capital Management, the landmark office campus' owners, is getting a $7 million facelift.

Ownership is in the middle of a modernization project to restore the office property's iconic status as the original entrance to Coral Gables. The goal is to maintain the property's appeal among top-tier domestic and multinational users.

“Coral Gables offers many executives shorter commute times and is located minutes from the airport,” Danet Linares, vice chairman of Blanca, tells GlobeSt.com. “Some users see value in having a Brickell Avenue address. Both neighborhoods have a good mix of restaurants and a critical mass of companies doing business in the area.”

Upgrades to the office complex's common areas and amenities span the main office lobbies, elevators, corridors, restrooms, parking garage, directional signage, and conference center. Ownership is also installing new artwork throughout the campus, new landscaping in the main courtyard, and updated design finishes and furniture.

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. The location is strategic. The 467-325-square-foot office park sits at the intersection of Douglas Road and SW 8th Street at 800 South Douglas Road and is close to dozens of high-end retail shops, restaurants and hotels. Downtown Coral Gables and the popular Miracle Mile shopping and dining district are just a few blocks away.

“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,” says Juan Ruiz, executive vice president of Blanca Commercial Real Estate, the exclusive leasing agent for the office property. “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.”