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Front Page » Top Stories » Coral Gables New Douglas Grand With Grocery Store Goes To Market

Coral Gables New Douglas Grand With Grocery Store Goes To Market

Written by on April 3, 2003

By Frank Norton
With 159 apartments, a soon-to-open Publix and an asking price of $33 million, the Douglas Grand mixed-use development in Coral Gables is on the market.

Development financiers Holliday Fenoglio Fowler are marketing the historic 1500 Douglas Road address to possible buyers interested in a mixed-use property.

The site was once home to the Coliseum, a landmark venue built in 1927 by city founder George Merrick and destroyed about 10 years ago for redevelopment.

The site, most recently a Service Merchandise store, is now home to an eight-story mixed-use building called Douglas Grand, owned by Douglas Road Partners.

The building offers a potential tenant mix of 22,000 square feet of loft-styled office space, 159 mid-market apartments and a Publix supermarket to open early this summer, said Howard Taft, senior managing director for Holliday Fenoglio Fowler’s Miami office.

Publix took over the lease for ground-floor space from Albertsons supermarket after the chain decreased its Florida presence.

Abood Wood-Fay Real Estate Group is marketing the office space to business services such as law and accounting firms.

Amenities include a second-floor pool with views of Coconut Grove and Miami, Mr. Taft said.

The building’s apartments, not accessible through Publix, opened to residents in January and are now about 40% full, he said.

Building owners Douglas Road Partners, a partnership involving BAP Development, were unavailable for comment.