HOUSTON – (Realty News Report) – Patrinely Group, a Houston-based development firm, will reinvigorate Columbus Center, a 263,000-SF office and retail complex located in Coral Gables, Fla.
Patrinely Group has assumed property management operations at Columbus Center, 1 Alhambra Plaza.
Additionally, Patrinely Group will oversee and direct leasing of the property – with Maggie Kurtz, Kevin Gonzalez and Jake Freeman of CBRE continuing as the listing agents.
Together with USAA Real Estate, the building’s majority owner, Patrinely Group will re-position the property by renovating and remodeling the building common areas to include an expansion of on-site building amenities, introducing new building management services, and reinvigorating leasing efforts.
Having originally developed the property in a joint venture with USAA Real Estate and IBM in 1991 and subsequently exiting the partnership in 1999, Patrinely Group has since completed 50 projects with USAA Real Estate over the past three decades.
“We have always liked the office fundamentals in Coral Gables and Columbus Center is a timeless property in a great location. We are enthusiastic about this opportunity and look forward to bringing new energy to the property,” said Robert Fields, President and CEO of Patrinely Group.
“We’ve been active here for more than 30 years,” said Dennis Tarro, executive managing director of Patrinely Group. “Our knowledge of the South Florida market, and our familiarity with the building, combined with our hands-on approach and delivery of best-in-class service, will be a tremendous asset in reinvigorating the property and ensuring its future success.”
The Patrinely Group recently announced that Paxion Capital partnership based in Menlo Park, Calif\, will acquire “a significant stake” in Patrinely Group, setting the stage for Patrinely to expand. Patrinely Group’s executive leadership team will remain in place. Patrinely Group will continue to operate under its current name
When the Paxion deal was announced in November, the company said: “This strategic partnership is a once in a lifetime opportunity for Patrinely Group to take a quantum leap forward – very exciting, indeed,” said Dean Patrinely, who founded the company in Houston in 1983.
Patrinely is currently developing downtown office towers in Denver and Salt Lake City, in addition to construction in Springwoods Village in north Houston, and projects in Austin, San Antonio, Los Angeles, Miami, Raleigh and the New York/New England region.
In Patrinely’s 440,000-SF office campus under construction in Springwoods Village, it was just announced that Hewlett Packard Enterprises will move its global headquarters into the project.
Dec. 8, 2020 Realty News Report Copyright 2020
File: Patrinely Group to Reinvigorate