The Real Deal Miami

Tibor Hollo reveals 2020 Ponce strategy shift

Commercial space at luxury Coral Gables building now offered for-sale

November 12, 2014 11:15AM

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2020 Ponce

2020 Ponce

Tibor Hollo is shifting gears with his 2020 Ponce building in Coral Gables by offering for-sale office and retail space and up to 50 percent developer financing at the property.

Hollo’s Florida East Coast Realty announced Wednesday that it will sell the office and retail space at the luxury Class A building instead of leasing it. The company originally launched the 130,000-square-foot 2020 Ponce as for-sale product in 2009 before changing course and leasing the space instead. It cited demand from Latin American businesses that are used to buying the commercial space they occupy.

“With a very long history in the real estate industry, we understand the importance of modifying our products to meet the market demand,” Hollo said. “We believe that now is the right time, while continuing with our successful leasing program, to offer our luxurious office and retail space at 2020 Ponce for sale once again.”

Existing tenants at 2020 Ponce include the Cisneros Group, Elite Body Sculpting, Natural Premium Brands, Peebles Corp. and TotalBank. — Eric Kalis

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