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2121 Ponce De Leon Boulevard

Mario Greco Of Zurich Insurance Group Leases Office To Mario Azar Of Black & Veatch In Coral Gables
LEASEDOffice

Mario Greco Of Zurich Insurance Group Leases Office To Mario Azar Of Black & Veatch In Coral Gables

2121 Ponce De Leon Boulevard

Building Size

6,847 SF

Asset Type

Office

Closing

Oct 22, 2025

AI

The property involved in this transaction is an office asset located at 2121 Ponce De Leon Boulevard in Coral Gables, encompassing a total area of 6,847 square feet. The office space caters to the growing needs of its tenants amidst rising demand for suburban office locations.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 2121 Ponce De Leon Boulevard
  • Market: Coral Gables
  • Landlord: Mario Greco - Zurich Insurance Group
  • Tenant: Mario Azar - Black & Veatch

Mario Azar, representing Black & Veatch, has successfully secured a new lease that doubles the firm's footprint in Miami-Dade, expanding their employee base significantly. This lease aligns with Black & Veatch's recent initiatives to enhance their presence in South Florida.

Players

ZG
Zurich Insurance GroupBrokerage

Mario Greco

Zurich Insurance Group

Landlord

1 deal

Landlord
Mario Azar

Mario Azar

Black & Veatch

Tenant

1 deal

Tenant

Coral Gables Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93