CMC Group has recently completed a $5 million renovation project at 4000 Ponce, a nine-story mixed-use development in the Southern Business District of Coral Gables. This Class A property now boasts modern and updated features, thanks to the refinancing deal worth $69.9 million from City National Bank of Florida (CNB) in July.
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 its ground floor for retail use. The building’s Mediterranean-style design has been home to THE COLLECTION car dealership for many years. Currently occupied by top tenants such as Steinway & Sons, Coldwell Banker,Hemisphere Media Group,and Korn Ferry,the building is almost fully leased with an occupancy rate of about92 percent.
As part of the renovation project,the lobby area received significant upgrades including Italian white marble flooring and fresh paint.The main lobby and elevator lobbies were also enhanced 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.All ground-floor awnings have also been replaced,giving this property a refreshed look that will surely attract more tenants.
