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BAC Florida Bank Renews 41,000-SF Lease

MIAMI-The landlord for the 205,000-square-foot Coral Gables landmark property, Deka Immobilien Investment GmbH, lures BAC for another 12 years.

By Hortense Leon | Updated on June 11, 2010

MIAMI-Taking advantage of the lower office rental rates today, BAC Florida Bank has signed an early renewal of its 40,857-square-foot lease at the BAC Colonnade in downtown Coral Gables. The bank signed up for 12 years at the building owned by Deka Immobilien Investment GmbH, a German entity which operates open-ended real estate funds.

Early renewals are not unusual today, says Maggie Kurtz, one of the leasing agents for the building and a director at Cushman & Wakefield. She says that it is the largest lease transaction in Coral Gables so far this year.

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