Douglas Entrance Office Parc, Coral Gables’ landmark office campus, is undergoing a $7 million makeover.
Miami-based Banyan Street Capital, along with capital partner Oaktree Capital Management of Los Angeles, are undertaking the modernization project to restore the property’s iconic status as the original entrance to Coral Gables, all with the goal of maintaining the property’s appeal among top-tier domestic and multinational users.
Construction work has already begun and is expected to be completed over the next year, with upgrades being made to the complex’s common areas and amenities, including its main office lobbies, elevators, corridors, restrooms, parking garage, directional signage, and conference center. Additional improvements include the installation of new artwork throughout the campus, new landscaping in the main courtyard, as well as updated design finishes and furniture.
“Douglas Entrance Office Parc is one of the most well-recognized and well-located office properties in Miami, surrounded by some of Miami’s top residential neighborhoods and situated just a few minutes away from Miami International Airport,” said Juan Ruiz, executive vice president of Blanca Commercial Real Estate. “These renovations and improvements will complement the asset’s unique features and illustrate the ownership’s commitment to delivering a premier office campus environment for current and future tenants.”
The six-acre, five-building complex includes a mix of Class A high-rise office towers, street-level retail, boutique office suites and event space. The property received LEED-Silver certification from the U.S. Green Building Council in 2009, and is listed on the National Register of Historic Places.
