CMC Group has completed $5 million in renovations at 4000 Ponce, a nine-story Class A mixed-use office and retail development in the Coral Gables’ Southern Business District. In July, CMC obtained a $69.9 million refinancing from City National Bank of Florida (CNB)
Originally developed in 2002, 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 car dealership. The building is about 92 percent occupied with tenants including Steinway & Sons, Coldwell Banker, Hemisphere Media Group and Korn Ferry.
The building’s lobby was revived with Italian white marble flooring and freshly painted. Chandeliers were replaced throughout the main lobby and elevator lobbies, lobby and common area lighting were upgraded to energy-efficient LED fixtures, and all the elevator cabs and hallways were refined and remodeled. The building’s exterior was completely repainted, and all the ground-floor awnings were replaced.
The post CMC Upgrades 4000 Ponce Office, Retail Center appeared first on Connect CRE.