The Real Deal Miami

Cosentino, Kimley-Horn headed to Prudential’s Coral Gables office tower

Leases are valued at a combined $16.5 million
April 02, 2017 03:10PM

355 Alhambra Circle in Coral Gables

Prudential Financial’s real estate division just scored two new tenants at its 355 Alhambra office tower in Coral Gables, as announced Friday by brokerage Cushman & Wakefield.

In the larger of the two deals, building materials producer Cosentino North America is packing up its Houston operations for a new 23,923-square-foot space in Coral Gables. This will be the company’s second location in South Florida, its first being a showroom and distribution center in Fort Lauderdale.

Infrastructure design firm Kimley-Horn was the second new tenant announced at 355 Alhambra, where the company has agreed to lease 16,677 square feet. The business is moving from its existing Miami office at 1221 Brickell.

Cushman valued the deals at a combined $16.5 million. The brokerage’s Brian Gale, Ryan Holtzman, Andrew Trench and Jeannette Mendoza represented Prudential, while Justin Schultz of H3 Hospitality handled Cosentino’s side of the lease.

Prudential paid $83 million for the 16-story tower at 355 Alhambra Circle in December 2015. The building houses 224,241 square feet of rentable office suites and a parking garage with roughly 673 spaces.

Rents in the building are in the $40 per square foot range, according to a recent LoopNet listing, and nearly 73,000 square feet is available. — Sean Stewart-Muniz