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As Miami area office tenants search for high quality assets amid volatility in the commercial real estate market, CMC Group has completed $5 million in renovations at 4000 Ponce, a nine-story Class A mixed use office and retail development that serves as a local landmark and anchor to Coral Gables’ Southern Business District.
The ownership’s group significant investment in the property represents its commitment to maintaining and elevating the building’s appeal as one of the top office locations in the Miami market while ensuring it continues to meet the evolving needs of the modern workforce.
Originally developed in 2002 by veteran luxury real estate developer Ugo Colombo’s CMC Group, 4000 Ponce features a total of 150,000 square feet of Class A office space and 32,000 square feet of prime ground-floor retail.
The Mediterranean-style building is the long-time home of The Collection’s flagship location, one of the most successful luxury car dealerships in the United States. The building is about 92 percent occupied with tenants including Steinway & Sons, Coldwell Banker, Hemisphere Media Group, Korn Ferry, Evensky & Katz, Pure Barre, Toska Spa and Facial Bar, Bagel Emporium & Grille, and JETSET Pilates.
“These improvements demonstrate our commitment to providing tenants with a comfortable, high-quality work environment that fosters productivity and success,” said Ugo Colombo, founder of CMC Group. “4000 Ponce remains one of the most stunning and well-constructed office properties in Miami and we’ve seen strong demand from new tenants who see value in the building’s quality finishes, walkability, and prime location within the Coral Gables Business District.”
4000 Ponce’s recent improvements involved extensive upgrades made to its interior common area and exterior façade. The building’s grand lobby was revived with Italian white marble flooring and was freshly painted with Oikos paint, an Italian eco-friendly paint product. Chandeliers were replaced throughout the main lobby and elevator lobbies, lobby and common area lighting were upgraded to energy-efficient LED fixtures, while all the elevator cabs and hallways were refined and remodelled with new bespoke Italian finishes.
The building’s exterior was completely repainted, and all the ground floor awnings were replaced. Improvements also were made to the building’s parking deck, tenant directory, and all the common area bathrooms were completely remodelled.
4000 Ponce displays a grand lobby, common areas and elevators enhanced by Italian marble, Venetian stucco, cherry millwork, and bronze, while its exterior exhibits the iconic Mediterranean-style architecture that distinguishes “The City Beautiful.”
Each floor of office space contains approximately 30,000 rentable square feet, with flexible floor plans for both full-floor users and multi-tenant use. The smart building is equipped with the latest systems for fully integrated broadband communications service, high-speed internet and data network service, and features ample on-site parking in an attached garage with a ratio of three spaces per 1,000 square feet, with a special visitor parking area on the mezzanine level.
4000 Ponce is located next to The Shops at Merrick Park, one of the South Florida’s most coveted shopping districts, and is within close proximity to an abundance of executive housing. Tenants enjoy the frequent service of the Coral Gables trolley which stops in front of the building and provides access to Miracle Mile, as well as the nearby Metrorail station. The property also is within walking distance from US1 and is approximately 20 minutes away from Miami International Airport.
CMC Group’s South Florida development portfolio includes luxury residential towers including Bristol Tower, Santa Maria, Epic Residences and Hotel, Grovenor House, Porto Vita and Brickell Flatiron. CMC Group’s most recent developments include the newly completed Onda Residences in Bay Harbor Islands; Vita at Grove Isle, an ultra-luxury boutique condominium under construction on the private island of Grove Isle in Coconut Grove; and the recently launched Four Seasons Private Residences, also in Coconut Grove.
For more information on 4000 Ponce, including leasing opportunities and availability, contact Patton Real Estate at 786-796-1909, or visit www.4000ponce.com.
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