CBRE Brings New Tenant to Coral Gables Campus

By Timea Papp

Douglas Entrance in Coral Gables, Fla.

CBRE has inked a 55,000-square-foot lease for the University of St. Augustine’s South Florida campus at Douglas Entrance, a five-building office park in Coral Gables, Fla. The leasing team represented owners Banyan Street Capital and Oaktree Capital Management in the transaction.

Senior vice presidents Diana Parker and Maggie Kurtz lead CBRE’s team, along with associates Jason Krieg and Kevin Gonzalez.

“The University of St. Augustine had been in search of its new South Florida campus for over two years when it finally decided Douglas Entrance, a unique office park with historical significance, was the perfect fit,” said Kurtz in a prepared statement. “Our team was able to offer the university a leasing opportunity in a building with high exposure and accessibility by giving the university its own identity while still having access to the environment and multitude of amenities Douglas Entrance has to offer,” she added.

The 462,888-square-foot office complex is located at 800 S. Douglas Road and received LEED Silver certification in 2009. According to the property website and Yardi Matrix data, Douglas Entrance underwent a $7 million renovation in 2015. The University of St. Augustine offers graduate-level degrees in physical and occupational therapy.

The deal marks the largest lease signed in Coral Gables this year and was executed while CBRE’s Diana Parker and Maggie Kurtz celebrate the 20-year anniversary of their business partnership. Currently managing 3.5 million square feet of exclusive listings, the team closed more than 500,000 square feet of office leases in 2016.

Image courtesy of Douglas Entrance