MIAMI—Downtown Miami office space is defying market expectationsin the wake of the Great Recession, but new office buildings like396 Alhambra in Coral Gables are also gaining traction.Agave Holdings’ mixed-use development just inked adeal for two floors of space with a foreign company.

Millicom International Services, a Florida arm of theSwedish-listed emerging markets cellular provider MillicomInternational Cellular, is relocating its Fort Lauderdale officesto 396 Alhambra. The company will take down 22,280 square feet ofclass A office space in the North Tower. Financial terms of thelease were not disclosed.

Danet Linares and Andres delCorral of Blanca Commercial Real Estaterepresented landlord 396 Alhambra, LLC in thetransaction. Keith Edelman and ScottGoldstein of Jones Lang LaSallerepresented Millicom.

“396 Alhambra has proven itself a magnet for new-to-marketmultinational users looking to enter the Miami market and expandtheir presence here,” Linares, executive vice president at Blanca,tells GlobeSt.com. With the Millicom lease, the office tower is now53% occupied less than one year since delivering to the market.