The aggregate value of the new lease is just shy of $2.3 million, according to Ben S. Moss, senior associate in the locally based office of Taylor & Mathis. Moss and Brian Gale, managing director, represented the owner, New York City-based Colonnade Properties, in the negotiations. Rick Nash in the Atlanta office and Scott Allen in the local office of CB Richard Ellis represented Lexmark.
"With this agreement, Douglas Entrance is now 90% leased," Moss tells GlobeSt.com. Other tenants include MasTec, EMC Corp., Phelps Dodge and Spillis Candela. The Mediterranean-style complex that spans the 800 block along Douglas Road is the only office campus in the Coral Gables submarket. It encompasses 425,659 sf of class A office space on eight acres. The quoted rental rates are $28 per sf, according to Moss.
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