Search
 

Medica Healthcare Signs Estimated $7M Lease

CORAL GABLES, FL-The company has signed a lease to move from Downtown to 22,000 sf of class A office space in the 4000 Ponce building in the south part of the city. The lease is for 10 years. The building is more than 90% leased.

By Melissa Bogdany | Updated on September 14, 2004

CORAL GABLES, FL-Medica Healthcare Plans Inc. has inked a 10-year lease valued at an estimated $6.7 million in South Coral Gables. The company is taking 22,000 sf of class A office space in the 4000 Ponce building, in perhaps the biggest office lease signed in the third quarter in the city. With the deal, the new office building is more than 90% leased. The value of the lease was not disclosed and is based on average class A rental rates in the market.The 4000 Ponce building is a mixed-use project that Ugo Colombo’s CMC Group developed. The building, located at Bird Road and Ponce de Leon Avenue across from the retail and residential project Village of Merrick Park, has 150,000 sf of class A office space and 34,000 sf of retail space.William H. Holly and Burt Checa of Holly Real Estate represented the property owner, the Collections Properties LLC, in the transaction. Chris Coots and Ryan J. Ackerman of CB Richard Ellis represented Medica Healthcare Plans, which is moving from Downtown Coral Gables.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.