The developer would not disclose what the lease is worth, but based on $32 per sf--the low end of the asking rents in the building--the lease has an estimated value of $21.12 million. The quoted rental range in the building is $32 to $34 per rentable sf. With this first tenant, the building is 22% leased.

When the 2525 Ponce de Leon office building is completed, scheduled for the third quarter of 2004, Adorno & Yoss plans to move more than 200 employees there from its main office in Coconut Grove. Adorno & Yoss, which will be one of the city's biggest employers, will be the first major law firm in South Florida to relocate to Coral Gables. The 17-year-old Adorno & Yoss now has offices in five South Florida cities: Coconut Grove, Fort Lauderdale, Boca Raton, Naples and West Palm Beach.

"Hines is always looking to find users who are focused on efficiency and total occupancy costs as much as the image of the building," Hines senior vice president Michael Harrison tells GlobeSt.com. "In the case of Adorno & Yoss, we were able to demonstrate a significant space efficiency at 2525 Ponce de Leon, which, in turn, translated to significant cost savings (for Adorno & Yoss) over the term of their lease."