Fleming's Signs Estimated $1M Lease

CORAL GABLES, FL-As the 2525 Ponce de Leon building in Coral Gables, FL, nears completion, Fleming’s Prime Steakhouse & Wine Bar has signed a lease for 8,659 sf on the ground floor. The value of the lease was not disclosed. However, based on the rates of the remaining retail space in the building, which is being marketed at $22 per sf triple net, the long-term lease is valued at approximately $1.3 million. The building is under construction and is scheduled to open in late August.

Fleming’s plans to open its new steakhouse and wine bar, at Ponce de Leon and Andalusia Avenue, by the end of the year. The restaurant will include a private dining room for corporate as well as private events. Fleming’s opened its first location in 1998.