Matthew Love Of Nicklaus Children’s Hospital Leases 65000 SF Office At Columbus Center In Coral Gables
1 Alhambra Plaza
Building Size
65,000 SF
Asset Type
Office
Closing
Apr 15, 2025
AI
The asset involved in this transaction is an office space encompassing 65,000 square feet, located at 1 Alhambra Plaza in Coral Gables. This property is part of the Columbus Center, which was previously acquired by Tourmaline Capital Partners for $76 million, with an occupancy rate of 62% noted last July.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $76,000,000
- Address: 1 Alhambra Plaza, Coral Gables
- Landlord: Brandon Huffman - Tourmaline Capital Partners
- Tenant: Matthew Love - Nicklaus Children’s Hospital
- Brokers: Savills & Cushman & Wakefield
Brandon Huffman represents Tourmaline Capital Partners in this leasing transaction, while Matthew Love represents Nicklaus Children’s Hospital. The lease signed covers roughly 65,000 square feet within the downtown Coral Gables area.
Coral Gables Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93