Terrabank Signs 15-Year Lease For 40,000 SF Office At One Alhambra Plaza In Coral Gables

The property involved in this transaction is a 40,000-square-foot office asset located at 1 Alhambra Plaza in the Coral Gables market. The landlord is Tourmaline Capital Partners, represented by Brandon Huffman and Jeff Fronek. The tenant is Terrabank, represented by Antonio Uribe. The transaction involves a long-term lease agreement.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Lease Term: 15 years
• Landlord: Brandon Huffman & Jeff Fronek - Tourmaline Capital Partners
• Tenant: Antonio Uribe - Terrabank
• Lease Size: 40,000 square feet
• Retail Branch Size: 2,692 square feet
• Previous Office Size: 27,068 square feet
• Market: Coral Gables

This lease represents Terrabank's relocation to a larger space, expanding their headquarters to accommodate growth. The complex at One Alhambra Plaza is undergoing repositioning efforts following a significant foreclosure purchase amounting to $76 million.