{"id":1004340539,"date":"2019-07-24T03:43:48","date_gmt":"2019-07-24T11:43:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004340539"},"modified":"2022-08-03T00:59:12","modified_gmt":"2022-08-03T08:59:12","slug":"bac-florida-bank-to-relocate-hq-to-metro-miami-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bac-florida-bank-to-relocate-hq-to-metro-miami-development\/","title":{"rendered":"BAC Florida Bank Relocates HQ to Coral Gables Development"},"content":{"rendered":"
\"The<\/a>

The Plaza Coral Gables. Image courtesy of Newmark Knight Frank<\/em><\/p><\/div>\n

BAC Florida Bank has inked a 63,000-square-foot,\u00a0<\/strong>long-term lease at The Plaza at Coral Gables, the 7-acre, mixed-use development currently under construction in Coral Gables, Fla. Starting 2022, the bank will relocate its headquarters from 169 Miracle Mile and occupy the top three floors of the project\u2019s south tower. Agave Holdings is the owner of the upcoming building.<\/p>\n

Located at 2901 Ponce de Leon Blvd. in the city\u2019s central business district, The Plaza at Coral Gables is 4.7 miles southwest from downtown Miami. Sitting next to Ponce Circle Park, which will also be included in the area\u2019s redevelopment, the planned office buildings are close to public transport stations and roughly 5 miles south from Miami International Airport.<\/p>\n

\n

READ ALSO:\u00a0<\/strong>Office Construction Pipeline Hits Peak in Q2<\/a><\/p>\n

\n

The project\u2019s office component consists of two 14-story buildings totaling 447,675 square feet. Amenities are set to include rooftop terraces, lounge and conference facilities, emergency and additional electrical power generators as well as a distributed antenna system for wireless cell phone connectivity.<\/p>\n

NKF Vice Chairman Patrick Duffy and Director Clay Sidner worked on behalf of the tenant in the transaction. Blanca Commercial Real Estate CEO Tere Blanca, Vice Chairman Danet Linares and Executive Vice President Andres Del Corral represented the landlord.<\/p>\n

Largest new construction in Coral Gables<\/h2>\n

Totaling almost 2.1 million square feet, The Plaza is considered to be the first large mixed-use development in Coral Gables and the largest new construction project since the city\u2019s inception in the 1900’s. Aside from the office towers, the project will include a 4.5-star, 242-key hotel, 161,000 square feet for restaurants, entertainment and lifestyle retail as well as approximately 170 rental units and lofts. The developers plan to deliver The Plaza at Coral Gables in the first quarter of 2022.<\/p>\n

In June, Agave Holdings obtained\u00a0$100 million in financing<\/a> for the development of the first phase of the project, which broke ground in December 2017 and has an estimated completion date of June 2020. Coastal-Tishman Construction is the general contractor.<\/p>\n","protected":false},"excerpt":{"rendered":"

Working on behalf of the bank, NKF negotiated the 63,000-square-foot lease at the mixed-use development underway in the city\u2019s central business district. <\/p>\n","protected":false},"author":870,"featured_media":1004340605,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,1492,21752,21742,21747],"tags":[45830,46421,36106,46430,36007,36867],"class_list":["post-1004340539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-miami","category-mixed-use","category-latest","category-office","tag-agave-holdings","tag-bac-florida-bank","tag-blanca-commercial-real-estate","tag-danet-linares","tag-newmark-knight-frank","tag-tere-blanca"],"acf":[],"yoast_head":"\nBAC Florida Bank Relocates HQ to Coral Gables Development - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bac-florida-bank-to-relocate-hq-to-metro-miami-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BAC Florida Bank Relocates HQ to Coral Gables Development\" \/>\n<meta property=\"og:description\" content=\"Working on behalf of the bank, NKF negotiated the 63,000-square-foot lease at the mixed-use development underway in the city\u2019s central business district.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bac-florida-bank-to-relocate-hq-to-metro-miami-development\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-24T11:43:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-03T08:59:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/The-Plaza-Coral-Gables-e1563892852329.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1173\" \/>\n\t<meta property=\"og:image:height\" content=\"881\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bac-florida-bank-to-relocate-hq-to-metro-miami-development\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bac-florida-bank-to-relocate-hq-to-metro-miami-development\/\",\"name\":\"BAC Florida Bank Relocates HQ to Coral Gables Development - 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