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COCONUT GROVE, FL-Hispanic advertising agency Alma DDB is subletting 16,744 square feet of office space at the SBS Tower from Coconut Grove-based Spanish Broadcasting System. The Coral Gables-based firm will move its US Hispanic and Latin America offices to the 294,000-square-foot, class A office building at the end of the year and start operations there in January 2011.

Diana Parker, director of Office Brokerage at Cushman & Wakefield in Miami represented Alma DDB. Tony Puente, a senior vice president at Miami-based Fairchild Partners, represented Spanish Broadcasting System. The five-year sublease is worth $2.14 million, according to Cushman & Wakefield. Puente tells GlobeSt.com SBS Towers’ quoted rates are in the low $30s.

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