SJC Ventures, in partnership with Nuveen Real Estate, plans to break ground in fall 2024 on the new development that will comprise an 88,938-square-foot mixed-use center, featuring retail stores, restaurants and service-driven businesses.
Together, they will elevate and maximize the company’s existing properties, while also providing new and innovative opportunities.
The acquisitions total $15.5 million.
As a result of this successful transaction, the team has been designated as the sales broker to market three additional office buildings and one retail building in the immediate area.
The property includes 45,770 square feet of office space, 11,255 square feet of ground-floor retail, and a 40,000 square-foot parking garage, all contributing to a steady income.
Located at Ponce de Leon Boulevard and Bird Road in Coral Gables, 4000 Ponce features 150,000 square feet of Class A office space and 32,000 square feet of prime ground-floor retail. The building is more than 90% leased.
In their new roles, they will primarily focus on debt and equity advisory across various property types, reinforcing the team’s expertise and regional presence.
The 8,501-square-foot lease marks the gym chain’s third location to open in the U.S., with the brand planning an explosive expansion that targets another 10 to 15 new gym locations in key markets across Florida.
The foreclosure auction is set for July 2.
He will be responsible for the firm’s Miami, Fort Lauderdale, Boca Raton, and West Palm Beach markets and oversee more than 450 professionals across the South Florida region.