City National Bank of Florida Inks Landmark 145K-SF Deal for New HQ in Coral Gables
The regional bank secured naming rights in one of South Florida's largest office leases in a few years
By Julia Echikson April 7, 2025 7:54 pm
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In one of South Florida’s largest office transactions since 2023, City National Bank of Florida signed a 144,878-square-foot lease to relocate its headquarters within Coral Gables.
The new office will be at 2701 South Le Jeune Road, a 15-story property, a representative for the bank confirmed. The deal is the largest office lease in South Florida since UKG took 155,000 square feet in Weston two years ago.
City National Bank of Florida’s leadership is currently based just a block north at 2855 South Le Jeune Road in a 124,168-square-foot office building that it owns.
The regional bank is looking to expand the size of its workforce by 20 percent over the next 18 months. The new lease will also allow the financial institution to consolidate its Miami-Dade County workforce under one roof.
“Bringing together teams currently stationed in Downtown Miami, the Brickell Financial District and our existing Coral Gables office will foster deeper collaboration, streamline our operations, and create an environment where relationships thrive,” Jorge Gonzalez, vice chairman and CEO of City National Bank, said in a statement.
CBRE (CBRE)‘s Matthew Goodman, Jeff Gordon, and Ramon Hernandez represented the tenant, while Eric Groffman, Cameron Tallon, and Randy Carballo, also from CBRE, represented the building’s ownership.
Zara’s billionaire founder Amancio Ortega, through his Pontegadea investment firm, purchased 2701 South Le Jeune Road for $62 million in 2009, a year after the 551,110-square-foot building’s completion, property records show.
The building, which previously housed the headquarters of Bacardi and is undergoing a multimillion-dollar renovation, will be renamed as City National Financial Center starting in 2026, when the bank occupies the space. Current tenants include food distributor Quirch Foods and carmaker Infinity, which operates a dealership on the ground floor.
A representative for Pontegadea could not be reached for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
