Commercial Property Sales Close in Coral Gables Central Business District as South Florida City Continues to Evolve
The Coral Gables central business district is quickly taking a new form. The Plaza, to the east of the Ponce Circle, is coming online, with one office tower completed and another expected to be completed at the end of 2021. Together, these towers will add nearly half a million square feet of office space to the area. Big tenants have reportedly already signed up, including the digital payments firm ACI Worldwide Corp and Bradesco BAC Florida Bank's (for its new headquarters). Allen Morris is planning a mixed use property, Ponce Park Residences, to have 171 residential units with retail and restaurant space on the ground level. Also, Codina Partners reportedly just completed a three-way land swap with the city of Coral Gables and Mercedes-Benz of Coral Gables to set up a luxury residential development of its own. With all this going on, it seems worth taking a moment to note other notable commercial property sales in the Coral Gables central business district.