Industrious Leases 23000 SF Office Space At 255 Alhambra Circle In Coral Gables
255 Alhambra Circle
Building Size
23,000 SF
Asset Type
Office
Closing
Mar 20, 2026
AI
255 Alhambra Circle is an office asset located in the Coral Gables market, comprising 23,000 square feet. This location will serve as the first Coral Gables site for Industrious.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 255 Alhambra Circle
- Market: Coral Gables
- Landlord: Stephen Bittel - Terranova Corporation; Alex Karakhanian - LNDMRK Development; Scott Sherman - Torose Equities
- Tenant: Jamie Hodari - Industrious
- Square Footage: 23,000
Industrious will occupy 23,000 square feet with 190 seats at this location, offering amenities such as craft coffee, secure Wi-Fi, and unlimited printing. This venture is in partnership with Terranova Corp., contributing to the expansion of Industrious' presence in South Florida amid increasing demand for coworking spaces, following its acquisition by CBRE.
Players
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