HOLLY REAL ESTATE AWARDED PROPERTY MANAGEMENT AND LEASING FOR THE BAC COLONNADE IN CORAL GABLES
Miami, (June 30, 2008) – Holly Real Estate/TCN Worldwide, a full service commercial real estate firm, announced today that it was awarded the property management and leasing of the BAC Colonnade. The property was purchased last week by ING Clarion Partners, LLC on behalf of Deka Immobilien GMBH for $83 million.
This 207,000 square foot, 11-story, historic Class-A office building is located in the heart of Coral Gables at the intersection of Ponce de Leon Boulevard and Miracle Mile.
William H. Holly, Holly Real Estate’s Chairman and Chief Executive Officer stated, “We are extremely proud to represent the BAC Colonnade, a property situated in one of the most desirable locations in the Coral Gables sub-market. Coral Gables holds the record for relatively low vacancy rates and strong demand, and the BAC Colonnade will continue to serve as a preferred location for prestigious local, national and international corporations and investment firms.”
The BAC Colonnade’s property management and leasing is being spearheaded by William T. Wassey, President of Holly Real Estate Property Management, who has more than 25 years of property management and leasing experience in Coral Gables. It will be managed and leased on-property by Bill Bailey, Vice President, Holly Real Estate Property Management. Mr. Bailey recently left Allen Morris Company to join Holly Real Estate.
“With its rich history, landmark location, amenities and features, the prestige that comes from locating in the BAC Colonnade is recognizable throughout the Southeast,” asserted Wassey.
The BAC Colonnade is home to premier companies such as Chevron Caribbean, BAC Florida Bank, SB Architects and HQ Global Workspaces. It recently added another
leading brand to its roster, Morton’s Steakhouse Restaurant, which is located on the ground floor facing Miracle Mile and Ponce de Leon Boulevard.
About Holly Real Estate/TCN Worldwide:
Miami-based Holly Real Estate/TCN Worldwide is an integrated commercial real estate company providing brokerage, investment/joint ventures, development, and property management and consulting services. Holly Real Estate is known for its leadership in green building initiatives and is currently completing Miami’s first LEED Certified Green office building -- Miami Green. Holly Real Estate is affiliated with TCN Worldwide, a consortium of independent commercial real estate firms ranked as one of the largest service providers in the industry covering more than 200 markets globally.
More information on Holly Real Estate/TCN Worldwide Commercial Real Estate firm is available at www.hollyre.com.
About ING Clarion
Founded in 1982, ING Clarion and its affiliates manage almost $50 billion in assets in the private equity, public equity, and public debt sectors of the real estate markets. The ING Clarion organization has almost 500 associates located in major markets throughout the United States.
The firm is the U.S. investment management arm of ING Real Estate, a global real estate company active in investment management, development and finance. With a total business portfolio of almost $160 billion and offices in 21 countries in Europe, the United States, Canada, Asia and Australia, ING Real Estate ranks among the world's strongest real estate companies.
ING Real Estate is part of ING Group, a global financial institution of Dutch origin offering banking, insurance and asset management to over 75 million private, corporate and institutional clients in more than 50 countries.
More information about the firm is available at www.ingclarion.com.
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Corporate Headquarters
Holly Real Estate/TCN Worldwide
Commercial Real Estate
370 Minorca Avenue
Coral Gables, FL 33134
305.777.0300
Fax: 305.777.0301
Robert H. McCammon
Licensed Real Estate Broker
Holly Real Estate
Florida Dept. of Real Estate License #CQ1016526
The information has been secured by Holly Real Estate/TCN Worldwide ORAL REPRESENTATION CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. THE DEVELOPER RESERVES THE RIGHT TO CHANGE AND/OR ALTER PRICE, MATERIALS, EQUIPMENT, AND DESIGN WITHOUT PRIOR NOTICE. PRICES BASED ON AVAILABILITY.
