Millicom International Signs 22,280 Square Foot Office Lease at 396 Alhambra in Coral Gables, FL

Top Quote Global telecommunications company to occupy two full floors at the Class A office tower. End Quote
  • Miami, FL (1888PressRelease) October 26, 2012 - Millicom International Services, LLC, a Florida arm of the Swedish-listed emerging markets cellular provider Millicom International Cellular, will relocate its Fort Lauderdale office to 396 Alhambra, a new mixed-use development in Coral Gables developed by Agave Holdings. The company will occupy 22,280 square feet of Class A office space on two full floors in 396 Alhambra's North Tower. Financial terms of the lease were not disclosed.

    Danet Linares and Andres del Corral of Blanca Commercial Real Estate represented landlord 396 Alhambra, LLC in the transaction, while Keith Edelman and Scott Goldstein of Jones Lang LaSalle Americas, Inc. represented Millicom.

    With approximately 282,000 square feet of rentable office and prime street-level retail/restaurant space, 396 Alhambra is the largest mixed-use project to take shape in Coral Gables in years. With the completion of Millicom's lease at 396 Alhambra, the office tower is now 53 percent leased less than one year since delivering to the market. Millicom will join a number of existing tenants including HBO Latin America, whose 66,000 square foot lease was the largest office transaction in Coral Gables in 2011; law firm Richman Greer, P.A.; Banco Pichincha; CitiBank, N.A.; architecture firm RTKL Associates; among others.

    "396 Alhambra stands out for its convenient and accessible Coral Gables location, Class A amenities and finishes, and well-capitalized ownership team," said Danet Linares, Executive Vice President at Blanca Commercial Real Estate. "These attributes have earned 396 Alhambra a place among the top leasing options for multinational companies seeking to enter the South Florida market or expand here, with Millicom being the latest example."

    Millicom International Cellular S.A. is a global telecommunications group with mobile telephony operations in 13 countries in Latin America and Africa. It also operates various combinations of fixed telephony, cable and broadband businesses in six countries in Latin America and online and e-commerce services in a number of countries in Latin America and Africa. The Group's mobile operations have a combined population under license of approximately 273 million people.

    "Companies from around the world are looking to 396 Alhambra as a premium leasing option in Miami, evidenced by the major multinational users who occupy the building and the steady tenant traffic we are experiencing," said Jose Antonio Perez Helguera, managing director for Agave Holdings, LLC.

    Beyond its convenient setting in the heart of the Coral Gables business district, 396 Alhambra stands out for its sustainable design. The project's newly-constructed 163,000 square foot North Tower has been pre-certified LEED Gold by the United States Green Building Council (USGBC) and the existing 85,000 square foot South Tower has been designed to achieve LEED Silver certification.

    Designed by Miami-based architectural firm The Fullerton Group and constructed by Balfour Beatty, 396 Alhambra boasts Spanish-influenced architecture and top-quality building materials, including marble from the original quarry for the Alhambra palace in Spain.

    396 Alhambra offers spectacular views and flexible floor plates ranging from 8,950 to 31,000 square feet. Amenities include secure, ample covered parking in an eight-story parking garage, valet parking, concierge service, 24-hour security with card-key access, an on-site Citibank branch, 34,000 square feet of prime restaurant and retail space and a beautifully landscaped outdoor terrace and courtyard for the enjoyment of all tenants.

    Learn more at For leasing information, please contact Danet Linares or Andres del Corral of Blanca Commercial Real Estate at (305) 577-8850.

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