Mixed-Use Center in Coral Gables Reaches Full Occupancy

A 65,242 square-foot Class A mixed-use development in Coral Gables is fully leased as a result of a series of lease renewals and expansions in its office component.
55 Miracle Mile Coral Gables

55 Miracle Mile

A 65,242-square-foot Class A mixed-use development in Coral Gables is fully leased as a result of a series of lease renewals and expansions in its office component. A total of three leases have been executed this July at 55 Miracle Mile.

The property — located in the heart of Coral Gables’ business district, directly on Miracle Mile between Galiano Street and SW 37th Avenue — also features Class A retail space and an attached parking garage that can accommodate 400 cars. The area is rich in residential complexes as well as shopping, dining and service-based stores, and is also home to several international and local corporations. 55 Miracle Mile was built by Starwood in 2004 as part of a larger mixed use project. Its roster of tenants includes companies involved in banking, medical and food service industries

The lease agreements in dispute were signed with All Inclusive Collection LLC, Maltzman & Partners and Richards & Goldstein LLP. The owner and landlord, CGI Merchant Group, was represented in the transactions by Stephen Rutchik, executive vice president of Colliers International South Florida.

CGI acquired the property in late 2013 for $26.75 million — the retail component was already 100 percent leased then.

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