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
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