HBO Signs 66,000 Square Foot Office Lease in South Miami

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Time Warner's HBO Latin America Group has just signed an office lease at 396 Alhambra Circle, the new 273,000-square-foot, two-tower, Class-A office and retail project in the heart of downtown Coral Gables, Florida.

The multinational entertainment powerhouse signed a lease to occupy approximately 66,203 rentable square feet, or 24.25 percent of the building.  HBO Latin America leased three full floors in the 15-story North Tower and two adjoining full floors in the seven-story South Tower.  It was the largest lease signed in Coral Gables in 2011. Financial terms were not disclosed.

"We are very pleased with our new headquarters. The building is ideal for our continual growth and development in the Latin American market, and the location is representative of our commitment to Miami-Dade County and the City of Coral Gables. We are confident that 396 Alhambra will serve us well for many years to come," said Gaston Comas, CEO for HBO Latin America.

"This is our biggest announcement so far, and more news is on the way as construction nears completion," said Eddie Avila, principal of 396 Alhambra LLC. "We will soon have 50 percent of the office space leased, and HBO Latin America's signing establishes 396 Alhambra as a premier destination address for multinational corporations, professional service firms and entrepreneurs in Coral Gables. 396 Alhambra is the perfect business address in Miami for international corporate headquarters."

HBO Latin America is planning to take occupancy of its new space during the third quarter of 2012, joining other fellow tenants including Citibank, the law offices of Richman Greer, global architecture firm, RTKL, Spanish-based multinational Internet company, Terra Networks and integrated marketing firm, kabookaboo.

The North Tower has attained LEED Gold pre-certification by the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) Green Building Rating System. The South Tower is designed to achieve LEED Silver.

Danet Linares, David M. Valdez and Andres del Corral of Blanca Commercial Real Estate, Inc. represented 396 Alhambra as building owners, and Alan R. Kleber and John Marshall of CresaPartners represented HBO Latin America.

"We are pleased to have been successful in having HBO Latin America decide to expand its footprint in downtown Coral Gables, further enhancing the City Beautiful's desirability as a significant international corporate hub," said Jim Cason, Mayor of Coral Gables. "We are delighted that HBO Latin America recognizes the value that being located in Coral Gables brings to a quality business like theirs," he added.

"HBO Latin America's move reaffirms the strong appeal of not only Coral Gables, but of this trophy Class-A office building in an ideal South Florida location for global connections," said Danet Linares, Executive Vice President of Blanca Commercial Real Estate. "This is an ideal location for companies large and small seeking premium office space at a prestigious address in the Coral Gables central business district within only four miles of the Miami International Airport, next to public transportation and within easy walking distance of hotels, as well as dozens of restaurants and shops."

The HBO Latin America signing follows the December announcement that law firm Richman Greer would occupy 10,755 square feet on a full floor of the North Tower. In August, 396 Alhambra delivered the project's first phase, the seven-story, 87,000-square-foot South Tower. The tower, notable for its solid construction, went through a complete renovation and modernization into Class-A office space designed to seamlessly blend in with the project's new North Tower.

"With its ideal central location on Alhambra Circle, and close proximity to Coral Gables' top residential neighborhoods, 396 Alhambra is the most exciting Coral Gables office project to deliver in years," said David M. Valdez, Executive Vice President of Blanca Commercial Real Estate. He also cited the building's top-quality finishes, floor-to-ceiling windows, panoramic views, and its sustainable design and construction as reasons to lease space in this premier building.

396 Alhambra, designed by The Fullerton Group of Coral Gables and built by Balfour Beatty Construction, offers flexible floor plates ranging from 8,950 to 31,000 rentable square feet. Amenities include a Citibank branch with ATM and drive-thru, secure parking in an eight-story, 884-space parking garage, valet parking, concierge service, 24-hour security with card access, 30,000 square feet of restaurant and retail space at ground level, and a fourth-floor landscaped outdoor terrace and courtyard for the enjoyment of tenants and guests.

In addition to its location and amenities, 396 Alhambra is notable for its sustainable design and construction. It is 14 percent more energy-efficient and 40 percent more water-efficient than a standard new office building. The sustainable design is underscored by a stormwater conservation and recycling system, a refrigeration system that limits gases which may contribute to ozone depletion and global warming, use of recycled content in construction materials, and green pest control and cleaning methods.

The building's Spanish-Mediterranean design is enhanced by a unique combination of materials, with the finest woods, marbles and granite. The marble floor in the lobby comes from the same quarry that supplied the marble for the original Alhambra palace in Spain.