30K-SF Coral Gables Lease Largest in Years

Raymond James, a wealth management company, leased 30,000 square feet at the 205,295-square-foot BAC Colonnade. The take-down of space at Ponce de Leon Boulevard and Miracle Avenue represents the largest new office lease in the Coral Gables, FL market in the past two years.

Cushman & Wakefield’s Brian Gale, Ryan Holtzman, Andrew Trench and Jeannette Mendoza represented building owner AEW Capital Management LP in the transaction. Todd Brandon, also with Cushman & Wakefield, represented St. Petersburg FL-based Raymond James.

The new lease represents a relocation and consolidation for Raymond James, from its current location at Regions Bank Tower, and 2525 Ponce de Leon Blvd. The transaction, which took 12 months from start to finish, required navigation of strict Coral Gables building codes, as well as the need to negotiate and move tenants with no-relocation clauses from the penthouse, and secure top-of-building signage for Raymond James on the adjacent hotel, which had a separate owner.

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