CMC Group has recently completed a $5 million renovation project at 4000 Ponce, a nine-story mixed-use development in Coral Gables’ Southern Business District. This Class A property now boasts modern and upgraded office and retail spaces, thanks to the recent refinancing of $69.9 million from City National Bank of Florida (CNB).
Originally built in 2002, 4000 Ponce offers a total of 150,000 square feet of high-quality office space and an additional 32,000 square feet on the ground floor for prime retail opportunities. The building’s Mediterranean-style architecture is well-known as it has been home to THE COLLECTION’s car dealership for many years. Currently at about 92% occupancy rate, some notable tenants include Steinway & Sons, Coldwell Banker,Hemisphere Media Group,and Korn Ferry.
As part of the renovation project,the lobby area received major upgrades such as Italian white marble flooring and fresh paint throughout.The main lobbyand elevator lobbies were also fitted with new chandeliers while energy-efficient LED fixtures were installed throughout all common areas.Additionally,elevator cabs,hallways,and exterior walls have been remodeled or repainted.Furthermore,new awnings have replaced those on the ground floor,giving this property an overall refreshed look.
This article was originally published by Connect CRE .
