FOR IMMEDIATE RELEASE
CORAL GABLES, FLORIDA - January 10, 2011 - The Company Real Estate is announcing that Luminaire (www.luminaire.com) has just signed a lease to add 2,257 SF to their retail portfolio in the heart of downtown Coral Gables. Their new location (2526 & 2528 Ponce de Leon BLVD) will be their third retail location in downtown Coral Gables and will host their Outdoor Therapy retail concept that will sell high end outdoor furniture. The landlord and tenant were both represented by Cyril Bijaoui of The Company Real Estate. Luminaire is the second to lease in this building joining Naked Pizza (www.nakedpizza.biz) that executed the property’s first lease back in late September 2010 for 2516 Ponce de Leon BLVD.
The building was acquired by a private equity group also represented by The Company Real Estate back in May 2008 with the intention to gut and fully renovate the asset. The building is a total of 6,096 SF on a 7,875 SF lot situated right off of Miracle Mile (1.5 blocks/400 feet from Ponce De Leon Blvd / Miracle Mile Intersection) with 75 lineal feet of storefront. Property is fully renovated with a new facade, storefront, exteriors, parking, roof, ADA compliant bathrooms, plumbing, mechanical & electrical conduits and more. This is an ideal location situated in the heart of Coral Gables amongst famous eateries, many banks and the core suburban business district of Miami's wealthiest demographic: 3 mile radius population exceeds 227,025 / Average household income exceeds $128,288.
“Leasing this location has been much more difficult than initially anticipated when we were buying this property prior to the real estate market fallout back in early 2008. Hard work and dedication to create value and return for our investors in this asset are what drove us to get this asset to perform, and finally our day is starting to come. We are now well occupied and only have 2 spaces left to lease. We will not rest until we are a solid 100% occupied with an impressive rent roll of credible companies such as those we have signed to date” states Cyril Bijaoui, President of The Company Real Estate, a commercial and residential real estate brokerage firm headquartered in Coral Gables, Florida that services domestic and international individuals, private equity groups, institutional investors and asset managers.
The Company Real Estate is a multi-cultural, multi-lingual firm with the ability to assist customers from any part of the world that seek advice on any facet of the real estate industry domestically and abroad. We ensure that our domestic and foreign customers have the comfort of knowing that every aspect of their affairs is always managed as if the investment made were our own. Every customer, big or small, is treated as if they were our only customer with their interests placed ahead of anything else. Our customers always know that they are never alone when they have THE COMPANY REAL ESTATE!
For more information, please visit www.thecompanyrealestate.com or call our office at 305-447-1471.
