Hemisphere Media Group expands its Coral Gables headquarters; Law firm Kopelowitz Ostrow Ferguson Weiselberg Gilbert opens its first permanent Miami-Dade County office.
The Coral Gables office market is getting an added boost thanks to the expansion of the only publicly-traded, pure-play US Hispanic tv/cable networks and content platform and a Broward law firm opening its first permanent office in Miami-Dade. Hemisphere Media Group, Inc. will relocate and expand its headquarters to 4000 Ponce de Leon Blvd., while new arrival Kopelowitz Ostrow Ferguson Weiselberg Gilbert will open its newest office at 2800 Ponce de Leon Boulevard. The two leases total a combined 13,000 square feet of Class A office space.
Carol Brooks, President of Coral Gables-based CREC, one of Florida’s largest commercial real estate services firms, represented Hemisphere and Kopelowitz Ostrow Ferguson Weiselberg Gilbert in the two transactions. William Holly of Patton Real Estate represented the owner of 4000 Ponce de Leon Blvd., CMC Group.
The leases come as new investment pours into the Coral Gables business district. A $21 million makeover of the neighborhood’s main retail thoroughfares, Miracle Mile and Giralda Avenue, is underway; more than 85 new restaurants have opened in the last five years; and over 1,500 residential units are expected to come online by 2020.
“The Gables is surging as new companies enter what has always been one of Miami’s most desirable submarkets and existing firms expand,” explains CREC President Carol Brooks, who advised both firms in their leases. “Our tenant representation team took the time to learn the needs of Hemisphere and Kopelowitz Ostrow Ferguson Weiselberg Gilbert, and then created a leasing strategy that will meet both firms’ current and future real estate requirements. The result will be new absorption for the Coral Gables office market.”
Hemisphere owns and operates five leading U.S. Hispanic cable networks, two Latin American cable networks, and the leading broadcast television network in Puerto Rico. The firm was located at 2000 Ponce de Leon Blvd., but recently decided to relocate to an 8,000-square-foot space with the goal of modernizing its space and establishing a defined headquarters that could accommodate its entire staff.
“As we have grown, we took on additional non-contiguous space and this move will put us all under one roof, so we can work more efficiently,” says Hemisphere President and CEO Alan J. Sokol. “After surveying the market with CREC, we concluded that 4000 Ponce was the right choice due to the building’s location and modern finishes. We couldn’t be happier with our new headquarters, and we’re thrilled that we’re remaining in Coral Gables.”
Kopelowitz Ostrow Ferguson Weiselberg Gilbert is a full-service South Florida law firm with approximately 45 lawyers that represent clients of all sizes, from entrepreneurs to large public companies. The firm’s main office is in Fort Lauderdale. The new Coral Gables location, which totals nearly 5,000 square feet, opens following the arrival last year of veteran Miami lawyer Bobby Gilbert, who is overseeing and expanding the firm’s complex litigation and class action practice.
“By opening our office in Coral Gables, we’ll be able to continue building our team and providing the full range of services to our clients and co-counsel across South Florida,” says Gilbert, who will manage the Coral Gables office.
Founded in 1989 by Chairman Warren Weiser and President Carol Brooks, CREC (Continental Real Estate Companies) is one of Florida’s largest commercial real estate services firms, managing a portfolio of more than 100 office, retail and multifamily properties totaling 11.4 million square-feet. With offices throughout Florida, CREC specializes in asset and property management, leasing, tenant representation, construction management, development dispositions and finance, and creative workout solutions. For more information, visit www.crec.com.
About Hemisphere Media Group, Inc.
Hemisphere Media Group, Inc. (NASDAQ:HMTV) is the only publicly traded pure-play U.S. media company targeting the high growth Spanish-language television and cable networks business in the U.S. and Latin America. Headquartered in Miami, Florida, Hemisphere owns and operates five leading U.S. Hispanic cable networks, two Latin American cable networks, and the leading broadcast television network in Puerto Rico. Hemisphere’s networks consist of: Cinelatino, the leading Spanish-language movie channel with over 16 million subscribers across the U.S., Latin America and Canada, including 4.5 million subscribers in the U.S. and 12.3 million subscribers in Latin America, featuring the largest selection of contemporary Spanish-language blockbusters and critically-acclaimed titles from Mexico, Latin America, Spain and the Caribbean; WAPA, Puerto Rico’s leading broadcast television network with the highest primetime and full day ratings in Puerto Rico. Founded in 1954, WAPA produces more than 75 hours per week of top-rated news and entertainment programming; WAPA America, the leading cable network targeting Puerto Ricans and other Caribbean Hispanics living in the U.S., featuring the highly-rated news and entertainment programming produced by WAPA. WAPA America is distributed in the U.S. to 5.2 million subscribers; Pasiones, dedicated to showcasing the most popular telenovelas and drama series, distributed in the U.S. and Latin America. Pasiones has 4.4 million subscribers in the U.S. and 10.6 million subscribers in Latin America; Centroamerica TV, the leading network targeting Central Americans living in the U.S., the third-largest U.S. Hispanic group, featuring the most popular news, entertainment and soccer programming from Central America. Centroamerica TV is distributed in the U.S. to 4.0 million subscribers; and Television Dominicana, the leading network targeting Dominicans living in the U.S., featuring the most popular news, entertainment and baseball programming from the Dominican Republic. Television Dominicana is distributed in the U.S. to 3.0 million subscribers. For more information, visit www.hemispheretv.com.