MIAMI—The Building on Ponce Circle is filling up fast. Coral Gables' newest class A office building is 80% occupied less than one year after opening.
Blanca Commercial Real Estate, the exclusive leasing agent for the building, just inked three new deals for 13,320 square feet of office and retail space. Artisanal bakery shop Violeta Pasteleria and First Bank Florida will occupy a combined 5,600 square feet of retail space while new-to-market tenant Caliber Home Loans has taken 7,720 square feet of office space. The result in positive absorption for the Coral Gables office market. Financial terms of the agreements were not disclosed.
“In just under a year since opening our doors, The Building has attracted a roster of premium tenants,” says Alberto J. Perez, president of AJP Ventures, the project's developer. “This points to the quality of The Building and the demand that exists from top-tier tenants for the unique workplace environment that is offered here.”
The Building on Ponce Circle's current tenant roster includes some of Miami's most prominent companies, including anchor tenant Zubi Advertising. LBI Media, the largest privately-held, Spanish-language broadcaster in the United States, is also a tenant.
“The building's quality, visually-striking architectural design, private boutique setting, and convenient location at the center of one of Miami's most elite business districts continues to attract a diverse mix of top-tier, mid-sized companies,” says Alison Pages, executive vice president of Blanca. Pages is not just flowing smoke.
The National Association of Industrial and Office Properties (NAIOP) South Florida Chapter named the building its 2012 Project of the Year. And in recognition of its commitment to aesthetics and architectural achievements, the Coral Gables Chamber of Commerce gave the building its “City Beautiful Award.”
The building features a glass curtain wall system with floor-to-ceiling windows, an on-site bank and drive-thru teller, covered parking, and a rooftop terrace with panoramic views. Flexible floor plates measure 7,720 square feet and can accommodate full-floor tenants or smaller private suites. The building was designed and built to achieve LEED certification awarded by the U.S. Green Building Council.
Blanca president and CEO Tere Blanca and Pages represented AJP Ventures, The Building's developer, in the transactions. Jon Bourbeau of Newmark Grubb Knight Frank represented Caliber Home Loans. Vivian Gonzalez of Cresa Partners represented First Bank Florida. Jenny Pimentel of Chariff Realty represented Violeta Pasteleria.
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