City National Bank of Florida Relocates Headquarters in Major Coral Gables Lease
City National Bank of Florida has made a significant move in the real estate market by signing a lease for a new headquarters at 2701 South Le Jeune Road. The agreement, covering 144,878 square feet, is noted as one of the largest office transactions in South Florida since 2023.
Overview of the New Headquarters
The new site, a 15-story building, was previously the headquarters for Bacardi. It is undergoing a substantial multimillion-dollar renovation and is set to be renamed the City National Financial Center in 2026 when the bank plans to move in. Currently, the space is occupied by tenants such as Quirch Foods and a dealership operated by Infinity.
This lease marks the most significant office space acquisition in South Florida since UKG secured 155,000 square feet in Weston two years ago, indicating a continued demand for office space in the region.
Relocation Details
The bank’s leadership, currently situated just a block away at 2855 South Le Jeune Road in a property it owns, intends to consolidate its workforce from several locations across Miami-Dade County into the new headquarters. This strategic move is aimed at fostering collaboration and enhancing operational efficiency within the bank.
“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,” said Jorge Gonzalez, vice chairman and CEO of City National Bank.
Transaction Representation
In this deal, the bank was represented by CBRE’s Matthew Goodman, Jeff Gordon, and Ramon Hernandez. The building’s ownership was represented by Eric Groffman, Cameron Tallon, and Randy Carballo, also from CBRE.
Background on the Property
The property at 2701 South Le Jeune Road was purchased by Pontegadea, the investment firm of Zara founder Amancio Ortega, for $62 million in 2009. This acquisition came shortly after the building’s completion, where it spans over 551,000 square feet.
