6,500 square-foot office condo purchased in South Florida
MIAMI, Fla. (Aug. 3, 2017) – Demetree Global, building owner of 2600 Douglas, acquired the Bank of America space in the building on July 31. This 6,500 square-foot office condo was purchased for $4.2 million and leased back to Bank of America.
Located at 2600 S. Douglas Rd., this 197,642 square-foot Class A, high-rise office building in downtown Coral Gables is within walking distance to Miracle Mile and downtown Coral Gables. This strategic location is at the center of a dining, shopping and cultural destination in South Florida.
In addition to its prime location, 2600 Douglas is also undergoing a $10 million capital improvement, designed by Zyscovich Architects. The building improvements include a renovated lobby, elevators, common corridors, elevator landings and restrooms, some of which have already been completed. Additionally, 2600 Douglas is currently undergoing significant exterior renovations, including a remodeled building entrance, complete with a porte cochere, as well as façade improvements on both the north and south sides of the building.
Current onsite amenities at 2600 Douglas include covered parking, security personnel and security system, onsite building management staff, a deli, a bank with an ATM and drive-thru lanes, a car wash, and an electronic lobby directory. Meeting space and conference rooms will also be available soon. Rooms currently undergoing renovations will be completed later this year.
In addition to the renovations underway at 2600 Douglas, Demetree Global is currently working on three other development/redevelopment projects: 20,686 square-feet of retail in Tallahassee; a 54-acre, mixed-use redevelopment in Orlando to include student housing and retail; and a 5-acre, mixed-use development in Winter Park.
About Demetree Global
Demetree Global has been a pioneer in land development, construction, commercial real estate and land use, positioning the company as an industry leader for more than 65 years. Evidence of the Demetree entrepreneurial spirit and vision is built into skylines, executive office centers, suburbs, multi-tenant facilities, student housing, real estate development projects and retail shopping centers throughout Florida. The Demetree Global family of companies has a rich heritage in Jacksonville, Miami and Orlando, Florida. After selling 12,500 acres to Walt Disney and helping create the Orlando skyline, the Demetree trademark remains known for its attention to detail, superior service and successful business relationships with employees, partners and clients.
Demetree Global’s portfolio of investments includes 1.5 million square-feet of commercial real estate, over 6,000 residential units, more than 1,200 hotel keys, 1,600 acres of raw land and a variety of operating businesses across several industries.