Miami based TAZ Partners and the Mas Group of Companies have announced that ground has been broken on a commercial property in the heart of Downtown Coral Gables.
The Building is due for completion in 2012 and will be a modern 58,000 ft.² Mediterranean style class A office development at 2990 Ponce de Leon Boulevard. The project has obtained financing from HSBC bank USA, N.A. and is developed by Alberto J. Perez of AJP Ventures.
Juan Carlos Mas leads the Mas Group of Companies which is a private equity, a venture capital and real estate investment fund and says "This is an exciting project for myriad of reasons, not the least of which is the partnership with my good friends the Zubis.”
The project is a joint venture between Mas and TAZ Partners LLC, a real estate investment fund created by the Zubizarreta family. The name of the company is formed from the initials of Teresa A. Zubizarreta who was a Miami icon and the late mother of Michelle and Joe, who are responsible for creating one of the largest and most respected Hispanic advertising agencies.
Joe and Michelle Zubizarreta said in a joint statement "Although this is certainly not our typical venture, we are thrilled to participate due to the quality of people involved, and the strategic plans for this remarkable project."
Both companies intend to relocate their headquarters to The Building once the development is completed, and fourth floor tenants are already confirmed as being the law firm Sanchez-Medina, Gonzalez, Queseda, Lage, Crespo, Gomez & Machado, LLP.
The innovative design of the The Building includes a floor-to-ceiling glass curtain wall on the south-east corner. As a boutique Class A office building, tenants will able to enjoy the rooftop terrace, full floor private suites with floor-to-ceiling windows and ample parking facilities. The Building is designed to achieve LEED certification which is awarded by the United States Green Building Council.