Done Deals: Newmark Knight Frank Inks 63,000-SF Headquarters Relocation Deal in Coral Gables, FL

Patrick M. Duffy

Miami, FL, July 22, 2019 — Newmark Knight Frank (NKF) announced today it brokered a 63,000-square-foot headquarters relocation deal for BAC Florida Bank in Coral Gables, Florida’s business district.

BAC Florida Bank signed a long-term lease at The Plaza in Coral Gables, an upscale mixed-use development currently under construction. Beginning in 2022, the company will occupy the top three floors of the project’s South Tower.

NKF Vice Chairman Patrick Duffy and Director Clay Sidner represented BAC Florida Bank in the transaction.

Blanca Commercial Real Estate CEO Tere Blanca, Vice Chairman Danet Linares and Executive Vice President Andres Del Corral represented the landlord, Agave Holdings.

Danet Linares

“BAC Florida’s move to the modern development at The Plaza reflects our commitment to continue to grow and to serve our clients’ needs in a workspace that supports our day-to-day business activities,” stated Julio Rojas, Chief Executive Officer of BAC Florida Bank.

Tere Blanca

“The Plaza in Coral Gables is a superb location and we are grateful for the expertise provided by Newmark Knight Frank to secure the space. BAC Florida looks forward to celebrating the 50-year anniversary of our founding in The Plaza.”

Julio Rojas

Located at 3011 Ponce de Leon Boulevard, The Plaza at Coral Gables consists of two Class A office towers totaling 447,675 square feet; a 4.5-star, 242-room hotel with meeting space; 161,000 square feet of carefully curated restaurants, entertainment and lifestyle retail; and residential townhomes and apartments.

The seven-acre community is expected to deliver in 2021.

“The Plaza’s premier location and luxury amenity set were significant factors in BAC Florida Bank’s decision to relocate its Coral Gables headquarters,” said Duffy.

Andres del Corral

“The walkable, mixed-use community fits within our client’s long-term strategy to elevate its workplace environment and attract and retain top talent.”

The Plaza at Coral Gables is the first large mixed-use development in the City of Coral Gables.

According to NKF’s Q2 office report, the Coral Gables submarket is strong and active.

In the last quarter, two of the largest building transactions occurred in the area, totaling more than $113 million and 308,495 square feet.