HBO Latin America Group, which owns several cable networks in the region of Latin America and itself is owned by Time Warner, has signed on as the largest tenant to date at 396 Alhambra Circle, a new 273,000-square-foot, two-tower, Class-A office and retail project in downtown Coral Gables according to a Miami Herald article. The South Florida Business Journal reported that, in leasing a quarter of the office space at the two tower property, the deal was the largest lease signed in Coral Gables in 2011. Blanca Commercial Real Estate represented the landlord in the transaction while CresaPartners represented HBO Latin America. Financial terms of the deal were not disclosed.
"The building is ideal for our continual growth and development in the Latin American market, and the location is representative of our commitment to Miami-Dade County and the city of Coral Gables," said Gaston Comas, CEO for HBO Latin America, in a statement. "We are confident that 396 Alhambra will serve us well for many years to come."
"This is our biggest announcement so far, and more news is on the way as construction nears completion," said Eddie Avila, principal of 396 Alhambra LLC. "We will soon have 50% of the office space leased, and HBO Latin America's signing establishes 396 Alhambra as a premier destination address for multinational corporations, professional service firms and entrepreneurs in Coral Gables. 396 Alhambra is the perfect business address in Miami for international corporate headquarters." Major tenants of the property include Citibank, the law offices of Richman Greer, global architecture firm RTKL, Spain-based multinational Internet company Terra Networks and integrated marketing firm kabookaboo. HBO Latin America is expected to take occupancy of the new space during the third quarter of 2012.
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