Avison Young negotiated two lease transactions totaling 28,503 square feet at Ponce Circle Tower, a class A office building at 2800 Ponce de Leon Boulevard in Coral Gables.
Wicker, Smith, O’Hara, McCoy & Ford, P.A., signed a 27,238-square-foot long-term renewal, and Corona Family Limited Partnership signed a new 1,265-square-foot long-term lease.
On behalf of the landlord, TA Realty, Avison Young Principal Donna Abood, who is also Managing Director of the firm’s Miami office, Vice President Joe Abood, and Associate Peyton Dowd facilitated the transactions.
“Wicker Smith is the anchor tenant of Ponce Circle Tower, and securing another long-term lease commitment from the firm was of great importance to ownership,” said Ms. Abood. “Both the Wicker Smith renewal and the new lease with Corona Family Limited Partnership represent a tremendous team effort on the part of our project management, property management, and leasing teams as well as ownership.”
According to Avison Young research, office leasing activity in Miami remains steady with renewals making up the majority of notable lease signings. In the Coral Gables submarket, class A rental rates have grown to $47.49 which underscores the area’s continued health.
Avison Young has been the exclusive leasing agency for Ponce Circle Tower since 2019. The property consists of a 15-story tower supporting 146,202 square feet plus a six-story parking structure featuring a contemporary design with expansive glass and pre-cast curtail wall providing expansive views of Biscayne Bay, Coconut Grown, Downtown Miami, and Coral Gables.
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