New Office Building

A new Class A office building is to be built in Coral Gables before the end of 2009. Principal Henry Pino for Strategic Properties Group plans to build Andalusia Corporate Plaza, a 17-story, 170,000-square-foot office tower, at 2263 Douglas Road, at the corner of Andalusia Avenue. Officially, that's in Miami, a technicality that allows the group to bypass the height restrictions imposed by the City of Coral Gables.

The site is "about 50 yards from Miracle Mile," Mr. Pino said. Site plans include 500 parking spaces. Rent per square foot would be in the range of $30-$32 triple net. Coral Gables is one of the tightest markets in South Florida. There is very little contiguous space available — 2525 Ponce de Leon, the most recent to be built, has less than 7,000 square feet. This was project was originally slated for condos, but market conditions favor for-lease space. A sign of the times.


Richard Recuset - Multi-Million Dollar Producer-The Recuset Group - 786-287-9272 - email:Richard@RichardRecuset.com