Scope

278,000 square-foot, mixed-use, built-to-suit office and retail, 850-space parking garage

Challenge / Description

Ground-up development of land acquired in 1989.

Solution

The property was entitled for added density due to BPG's willingness to meet strict design standards established by the City of Coral Gables.

Prior to starting construction, BPG procured IBM as the lead tenant and equity investor in the land acquisition and project development.

At completion in 1991, the project had attracted several other high-profile tenants and a first-class restourant. The project was sold by BPG in 1993.

Acquired

1989

Completed

January 1991. Sold by BPG in 1993.

Partners

Barker Pacific Group, USAA, and IBM

Financing
JP Morgan

Major tenants

• IBM
• Disney
• Chase Bank