Coral Gables City Hall just grabbed a bigger slice of its own downtown, quietly locking in nearly 10,500 square feet at 2020 Ponce in the heart of the business district.
The city has signed two leases in the 14-story office tower, taking a ground-floor suite along with space on the 12th floor. Florida East Coast Realty, which developed and owns the property, announced that the city will occupy 6,870 square feet on the 12th floor and 3,597 square feet on the ground floor, a combined footprint of nearly 10,500 square feet, according to Florida YIMBY. “This lease underscores the continued demand for high-quality office space in the heart of Coral Gables,” FECR Chief Operating Officer Austin Hollo said in the announcement.
The move plants municipal offices inside a building long marketed to both private firms and public-sector users, effectively making the city both a downtown landlord and a high-profile tenant.
City's Downtown Footprint
The announcement did not specify which departments or services will occupy the new suites or when the city will take occupancy, per reporting by CityBiz. For now, residents are left to guess which city functions might eventually land on Ponce de Leon Boulevard.
Coral Gables has been active in managing and leasing municipal properties and collects millions in rent from city-owned leases, a detail noted by the Coral Gables Gazette. In other words, City Hall is not just regulating the local real estate scene; it is very much playing in it.
Last Full-Floor Opportunity
With the city taking its space, one major vacancy remains at 2020 Ponce: a full floor on the eighth level. The 16,424-square-foot suite comes with a wraparound terrace and unobstructed views of the Miami skyline and is being marketed for lease or purchase by Savills brokers Donna Abood and Peyton Dowd.
“The last full-floor space at 2020 Ponce offers a truly unique opportunity,” Abood said, per Florida YIMBY. Listing details and floor plans are available through property listings for the tower, including CommercialCafe.
What It Means For The Market
The deals underscore continued demand for high-quality office product in Coral Gables’ central business district and keep attention on FECR’s holdings in the area. 2020 Ponce is a 14-story, roughly 130,000-square-foot modern-Mediterranean office tower developed by Florida East Coast Realty and is within walking distance of Alhambra Circle, Miracle Mile and Giralda Plaza, according to the building’s marketing materials and commercial listings.
PropertyShark notes the building’s column-free floor plates, a feature that gives tenants flexibility in how they lay out their space. The 2020 Ponce property site highlights private balconies that appeal to tenants looking for a bit of outdoor breathing room with their office views.
Savills brokers Donna Abood and Peyton Dowd are handling inquiries about the full-floor opportunity and the remaining suites; their contact information appears on the building’s listings. For leasing information and floor plans, see the Savills listing via CommercialCafe or visit the property website.
