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MIAMI-Colonnade Properties of New York has selected the South Florida office of Cushman & Wakefield of Florida Inc. to lease up the remaining 50,000 sf at its newly purchased 463,632-sf, five building Douglas Entrance complex at 800 Douglas Road in suburban Coral Gables, FL.

The property is 90% leased. Average asking rents at Douglas Entrance are $26 per sf to $28 per sf.

Cushman & Wakefield directors Maggie Kurtz and Diana Parker will handle the assignment. The value and terms of C&W’s contract was not disclosed but area brokers tell GlobeSt.com the negotiated fee is usually a percentage of the total rents of a signed lease.

Kurtz and Parker previously leased a total 85,000 sf at The Colonnade, another South Florida asset formerly owned by Colonnade Properties. The New York investor also owns Colonial Bank Centre, a 245,000-sf office building at 1200 Brickell Ave. in Miami’s financial sector.

Colonnade Properties purchased Douglas Entrance Nov. 6 for $61.2 million or about $130 per sf from New York-based Louis Dreyfus Property Group and Apollo Real Estate Advisors.

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