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1 Alhambra Plaza

Matthew Love Of Nicklaus Children’s Hospital Leases 65000 SF Office At Columbus Center In Coral Gables
LEASEDOffice

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.

Players

Brandon Huffman

Tourmaline Capital Partners

Landlord

$368.3M

vol

8 deals

Landlord

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