The Real Deal Miami

AMC Latin America moves HQ to 2020 Ponce in Coral Gables

Tenants include Peebles Corp., Florida Community Bank and Total Bank

December 10, 2015 01:30PM

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The office and retail building at 2020 Ponce De Leon Boulevard

The office and retail building at 2020 Ponce De Leon Boulevard

AMC Networks International will relocate its corporate headquarters to 2020 Ponce, Avison Young announced on Wednesday.

AMC signed a lease for the 16,424-square-foot space, a full floor, at the Coral Gables office building. Florida East Coast Realty developed and owns the mixed-use tower, which includes ground floor retail and seven floors of office space.

Donna Abood, Avison Young principal and managing director in the firm’s Miami office, represented Florida East Coast. CBRE’s Diana Parker and Kevin Gonzalez represented AMC.

In a press release, Abood said the building underwent upgrades that include private, wraparound balconies, and new technology, security and communications systems. Tenants include Peebles Corp., Florida Community Bank, Total Bank and Providence Companies.

FECR first opened the 130,000-square-foot building in 2009 with for-sale office space, but later shifted to leasing. The company announced last year that it would begin selling office and retail space again, citing demand from Latin Americans that traditionally buy the spaces they occupy.

Abood said the office market in Miami has the lowest vacancy rate in Florida at 13.1 percent. “With Coral Gables experiencing single-digit vacancy rates, tenants seeking high quality space with the ability to lock in room to grow are acting fast,” she said in the press release. – Katherine Kallergis