MIAMI, FL – Florida East Coast Realty (FECR), an integrated real estate development and management company with more than 60 million square feet of construction completed, has announced the sale of Suite 1101 at its 2020 Ponce office condo building, located in Coral Gables, Florida. The unit is 2,185 usable square feet and sold for $1.56 million ($714/USF).
The buyers, Lillian A. Ser and Juan A. Fernandez, own Total Research Group (TRG), which performs high-quality clinical trials that lead to the development of lifesaving medical advances.
“Demand continues to grow in the Coral Gables office condo market,” said Austin Hollo, Chief Operating Officer at FECR. “We are extremely pleased with the strong and sustained interest from so many potential buyers—whether as an investor or as an end-user.”
Donna Abood, Joe Abood, and Peyton Dowd from Avison Young brokered the deal.
“Driven by its strategic location in the Miami-Dade County market, Coral Gables office values remain solid and typically outperform other submarkets,” said Donna Abood. “Businesses are captivated by the opportunity to establish offices within the dynamic business landscape that Coral Gables provides.”
About Brian French
Led by a commitment to tech-intelligent curation, Brian French tracks and analyzes the Florida Business News defining Florida's economy. Brian brings an extensive financial background to his analysis, having graduated from the University of South Florida in Finance and serving as a Vice President and Portfolio Manager for Merrill Lynch Private Investors and the Trust Department in St. Petersburg, FL, as well as a Vice President and Trust Investment Officer for SunTrust Bank in Sarasota, FL. His writing blends macroeconomic trends, capital markets, corporate strategy, and modern digital insights for a sophisticated look at Florida's business market.
