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| Natalie Duran |
CORAL GABLES, FL -- On the heels of signing UBS to the
largest Coral Gables lease of the year, Taylor & Mathis has secured an
additional $25 million in leases at the iconic
550 Biltmore.
The Taylor & Mathis leasing team of Brian Gale and
Ryan Holtzman negotiated the transactions on behalf of owner AEW.
In a new to market
deal Heinemann Americas, Inc, one of the largest duty-free companies in the
world, has leased 8,300 square feet. The company’s US office will help expand
their cruise liner business which is dominated by American shipping companies.
From this base, the
company acts as a retail and distribution partner to organizations such as MSC
Cruises, supplying its fleet in Miami, the Caribbean and South America. The deal was co-brokered by Wolfgang
Hertz and Natalie Duran of Fortune International Realty representing
Heinemann.
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| Carol Ellis-Cutler |
“The tenant loved
all of the renovations, which were recently completed in the building,” stated
Holtzman.
“They wanted to be in a building in Coral Gables with quality
ownership.
"However, it was one of the
more unique amenities in the building that actually sealed the deal - the 1,000
square foot balconies, with views of the city were the key in making the
deal.”
Richemont Latin
America & Caribbean LLC expanded their headquarters by 3,215 square feet to
lease 30,000 square feet at the building. John Marshall of CRESA South Florida
represented Richemont in the deal. Richemont
owns several of the world's leading companies in the field of luxury goods,
with particular strengths in jewelry, luxury watches and writing instruments.
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| Brian Gale |
Keller Williams
Realty Coral Gables-Coconut Grove leased 6,500 square feet. Carol
Ellis-Cutler of Colliers represented the tenant.
Owner AEW spent millions of dollars over the past 3 years to
upgrade the iconic building, including the lobby, elevators and common areas.
The renovations earned the building the Renovated Building of the Year award
from the Building Owners and Managers Association (BOMA) in 2013.
The renovations have been instrumental in
attracting new tenants and keeping existing ones in a market with a higher
vacancy rate than neighboring sub-markets.
550 Biltmore, a
14-story pyramidal landmark office building in downtown Coral Gables, underwent
a major renovation to the lobby, incorporating clean, modern lines in the
design and furnishings as wells as upgrades to the mechanical and HVAC systems.
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| 550 Biltmore, Coral Gables |
The 162,293 square
foot office building features a pyramid configuration, enabling most suites to
feature a private balcony with conference-size terraces for larger
offices.
The facade is comprised of imported Italian travertine
marble and black granite. A circular
driveway and fountain demarks the building's main entrance, which is flanked by
two impressive bronze-cast lions.
For a complete copy of the company’s news release, please
contact:
Ryan Holtzman
Taylor & Mathis
305.476.8880
