Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CORAL GABLES, FL-In a deal described as the largest office sale brokered this year in Miami-Dade County, Colonnade Properties of New York has acquired the five-building, 463,632-sf, 94%-leased Douglas Entrance office complex for $60 million or $129 per sf.

The sellers were Louis Dreyfus Property Group and Apollo Real Estate Partners Advisors, both of New York.

Cushman & Wakefield of Florida Inc. senior directors Jay M. Caplin and John F. Bell negotiated for the sellers

“Douglas Entrance is a premier office property in a strong location,” Caplin says in a prepared statement. “The complex has a diverse corporate tenant mix, with an impressive representation of multinational firms which have chosen the property for their Latin American headquarters.”

Among the property’s tenants are Spillis Candela DMJM, Phelps Dodge, Hispanic Broadcasting Corp., EMC Corp., Westinghouse, Lexmark International and SmithKline Beecham.

Spillis Candela, an architectural firm, and Regency Group of Jacksonville, FL. were among Douglas Entrance’s original investment and development partners. The property was returned to the lender in the late 1980s when Louis Dreyfus bought the property.

The class A, 6.2-acre Mediterranean-style complex at 800 Douglas Road has a conference center and a parking garage.

When Dreyfus purchased Douglas Entrance more than 10 years ago, the complex had four buildings, the 12-story North and Executive Towers, the two-story Annex Building and the historic two-story La Puerta del Sol building. Dreyfus and Apollo built the 12-story South Tower in 1998.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.