The Plaza Coral Gables Hits Full Occupancy with High-Profile Tenants

Key Points:

• ​100% Leased: The Plaza Coral Gables has achieved full occupancy and secured tenants such as Apple, Bacardi USA, and Hinshaw & Culbertson.

• ​Major Lease: Apple's lease of approximately 42,000 square feet is one of the largest office deals in Miami-Dade County. ​

• ​Comprehensive Development: The mixed-use project includes Class A office spaces, a Loews hotel, luxury residences, and extensive retail and dining options. ​

The Plaza Coral Gables, a premier mixed-use development in the 'Beverly Hills' of Miami, has reached full occupancy. This milestone underscores the robust demand for high-quality office spaces in South Florida. Notable tenants, including tech giant Apple and spirits producer Bacardi USA, have secured significant leases within the complex. 

The Plaza's Leasing Triumph:

• Apple's Significant Commitment: Apple has leased approximately 42,000 square feet on the 11th and 12th floors of The Plaza's North Tower. This lease is among the largest recent office deals in Miami-Dade County, highlighting the area's appeal to major corporations. The office leasing efforts are led by Tere Blanca, Founder, Chairman, and CEO, Danet Linares, Executive Vice Chairman, and Andres del Corral, Vice Chairman.

• Diverse Tenant Mix: The Plaza boasts a varied roster of tenants, including:​

  • Bacardi USA: Occupying about 100,000 square feet for its regional corporate offices. ​

  • Hinshaw & Culbertson LLP: Leased 21,376 square feet, relocating within Coral Gables. ​

  • Diageo North America Inc.: Secured 8,620 square feet, moving from a nearby location. ​

  • Marriott International: Established a 2,106-square-foot satellite office. ​

Comprehensive Mixed-Use Development:

Developed by Agave Holdings, The Plaza Coral Gables spans seven acres and offers:​

• Office Space: 455,008 square feet of Class A offices across two towers. ​

• Hospitality: A 242-room Loews Coral Gables Hotel with extensive event spaces. ​

• Residential: 170 luxury rental units at The Reserve. ​

• Retail and Dining: 165,000 square feet of street-level entertainment and retail spaces featuring diverse dining options, including Michael White's Mika and the upcoming Zuccaly.

• Amenities: A grand plaza with art installations and water features, enhancing the community experience. ​

Implications for the Coral Gables Market:

The Plaza's full occupancy reflects a broader trend of companies seeking high-quality, amenity-rich office environments in South Florida. The development's success has increased interest in Coral Gables as a business hub, attracting local and out-of-state firms. This leasing momentum indicates the area's growing prominence in the commercial real estate landscape.​

Urbanization of Coral Gables:

The Plaza Coral Gables reaching full occupancy is more than just a leasing milestone; it's a testament to South Florida’s appetite for high-end, thoughtfully designed office environments. As a flagship mixed-use development, The Plaza redefines what modern urban centers can offer, seamlessly blending work, life, and leisure. Its success signals a new era for commercial real estate in the region, rivaling core urban neighborhoods such as Brickell and Downtown Miami.