The asset involved in this transaction is an office space located at 4225 Ponce De Leon Boulevard in Coral Gables. It encompasses a total area of 33,180 square feet and is part of a new Class A office development. The asking rent for this property is set at $100 per square foot, with UBS securing a 10-year lease for nearly 40% of the building upon completion, which is anticipated in Q3 2025.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Address: 4225 Ponce De Leon Boulevard
• Market: Coral Gables
• Landlord: Eduardo I. Otaola - Constellation Group & Jose R. Boschetti - Boschetti Group
• Tenant: Sergio Ermotti - UBS
• Landlord's Representative: Kevin Gonzalez & Stephen Rutchik - Colliers
• Tenant's Representative: Tony Jones - Cushman & Wakefield
• Square Footage: 33,180
• Lease Duration: 10 years
• Completion Date: Q3 2025

This transaction is notable for the involvement of key individuals and organizations. Eduardo I. Otaola and Jose R. Boschetti represent the landlords, while Sergio Ermotti represents the tenant, UBS. The landlord's representatives are Kevin Gonzalez and Stephen Rutchik from Colliers, while Tony Jones from Cushman & Wakefield represents the tenant. This lease marks a significant move for UBS as their wealth advisory division will be relocating from 550 Biltmore Way to this new location.