$57M Coral Gables’ Office Sale is Largest of Year

Zurich Insurance Group, headquartered in Switzerland, has acquired the 164,848-square-foot 2121 Ponce de Leon Blvd. office tower in Coral Gables, FL. The buyer paid $57.5 million to sellers Greenstreet Partners and CREC, making the sale Coral Gables’ largest so far in 2016.

The sellers had acquired the building in 2005 for $27.1 million. The property, built in 1970, is 95% occupied. Tenants include accounting firm Goldstein Schechter, Fox Latin America, Valley National Bank, the Consulate of Barbados and buffet restaurant POC.