Brian Gale, Ryan Holtzman, Andrew Trench and Jeannette Mendoza Negotiated the Lease Renewal and Expansion
CORAL GABLES, FL, MARCH 15, 2018 — Cushman & Wakefield has negotiated an 18,829-square-foot office lease expansion and renewal with Cyxtera Technologies, Inc. at BAC Colonnade. The lease brings the 205,295-square-foot, Class A office tower to full occupancy.
The Cushman & Wakefield office leasing team of Brian Gale, Ryan Holtzman, Andrew Trench and Jeannette Mendoza represented building owner AEW Capital Management, LP in the lease negotiations. Cyxtera was represented by JLL’s Alan Kleber.
Cyxtera, a global technology leader, is headquartered in the BAC Colonnade building. The company, which employs more than 1,300 people worldwide, renewed its existing 11,894-square-foot lease and added 6,935 square feet to its footprint.
BAC Colonnade is an iconic urban landmark developed in 1988. The 11-story, 205,295-square-foot, Class A office tower is ENERGY STAR-rated and features ample parking in an attached garage, institutional ownership and on-site management. The building shares space with the Hotel Colonnade, which provides tenants with direct access to a luxury amenity package including a fitness center, cafe, meeting rooms, event centers, concierge services, a BAC Bank branch and ATM, a sundry store, Morton’s Steakhouse and Sushi Samba.
BAC Colonnade is located at 2333 Ponce De Leon Boulevard. This position at the intersection of Ponce de Leon Boulevard and Miracle Mile provides an exceptional Main and Main location at the center of Coral Gables’ vibrant business district.
“The office market in Coral Gables is en fuego,” said Holtzman. “The demand in this submarket is incredible. Within the past 12 months, we’ve closed over 90,000 square feet of new deals, expansions and renewals at BAC Colonnade. I’m proud to say, we are one of few Class A office buildings at 100% occupancy.”
Added Holtzman, “The Colonnade has arguably the best location in Coral Gables and offers tenants an urban live-work-play-and-learn experience on par with Miami’s CBD, but without the CBD premium, traffic congestion or the long commute.”
The Cushman & Wakefield team began leasing the building in 2015 when the building was 82 percent occupied. In December 2016, the team secured a 27,116-square-foot lease with Raymond James & Associates at BAC Colonnade, then the largest new office lease in Coral Gables in two years. That deal was a finalist for NAIOP’s Awards of Excellence Creative Deal Maker of the Year.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Cyxtera Technologies combines a worldwide footprint of 57 best-in-class data centers with a portfolio of modern, cloud- and hybrid-ready security and analytics offerings — providing more than 3,500 enterprises, government agencies and service providers an integrated, secure and resilient infrastructure platform for critical applications and systems. For more information about Cyxtera visit http://www.cyxtera.com/.