Millicom International Leaves Fort Lauderdale Digs for Coral Gables’ 396 Alhambra

By Georgiana Mihaila, Associate Editor

Global telecommunications company Millicom International will soon be relocating its Fort Lauderdale office to 396 Alhambra—Agave Holdings’ new mixed-use development in Coral Gables. Millicom International Services LLC, the Florida arm of Swedish-listed cellular provider Millicom International Cellular, has signed a lease for 22,280 square feet of Class A office space on two full floors in 396 Alhambra’s North Tower. Financial terms of the lease were not disclosed.

Danet Linares and Andres del Corral of Blanca Commercial Real Estate represented landlord 396 Alhambra LLC in the transaction, while Keith Edelman and Scott Goldstein of Jones Lang LaSalle Americas Inc. represented Millicom.

With approximately 282,000 square feet of rentable office and prime street-level retail/restaurant space, 396 Alhambra is the largest mixed-use project to take shape in Coral Gables in years. With the completion of Millicom’s lease at 396 Alhambra, the office tower is now 53 percent leased less than one year since delivering to the market.

Millicom will join a number of existing tenants including HBO Latin America, whose 66,000-square-foot lease was the largest office transaction in Coral Gables in 2011; law firm Richman Greer P.A.; Banco Pichincha; CitiBank N.A.; architecture firm RTKL Associates; and others.

Designed by Miami-based architectural firm The Fullerton Group and constructed by Balfour Beatty, 396 Alhambra boasts Spanish-influenced architecture and top-quality building materials, including marble from the original quarry for the Alhambra palace in Spain.

Conveniently located in the heart of the Coral Gables business district, 396 Alhambra also stands out for its sustainable features. The project’s newly-constructed 163,000-square-foot North Tower has been pre-certified LEED Gold by the United States Green Building Council, and the existing 85,000 square foot South Tower has been designed to achieve LEED Silver certification.

Image courtesy of Schwartz Media Strategies