Historic Mixed Use Gets an Interior Revamp
- Jun 26, 2015
By Balazs Szekely, Associate Editor
A landmark office property in Coral Gables is undergoing a partial makeover. Douglas Entrance Office Parc’s reborn common areas and amenities will serve to restore the property’s reputation as the original entrance to Downtown Coral Gables and maintain its appeal among top-tier users.
The upgrades worth $7 million in total will include improvements to the complex’s main office lobbies, elevators, corridors, restrooms, parking garage, directional signage, and conference center. Additional improvements such as the installation of new artwork throughout the campus, new landscaping in the main courtyard, updated design finishes and new furniture are also included in the plans.
Listed on the National Register of Historic Places, the six-acre, five-building includes a mix of Class A high-rise office towers, street-level retail, boutique office suites and event space. The property is also LEED Silver certified. Banyan Street Capital owns the asset in partnership with Oaktree Capital Management LP–the acquisition closed last spring and the joint venture selected Blanca Commercial Real Estate as exclusive leasing agent for the property shortly afterwards.
Field work is already underway and the renovations are expected to be completed over the next year.
Photo courtesy of Banyan Street Capital