Bacardi has consolidated about 250 employees into a 100,000-square-foot North America regional office at Plaza Coral Gables on Ponce de Leon Boulevard.

The spirits company opened the office Sept. 16 across five floors at 3011 Ponce de Leon Blvd., Propmodo first reported. Bacardi relocated from a midrise on LeJeune Road, where it had operated since moving to Coral Gables in 2009.

Miracle Mile corridor draws a wave of tenants

The arrival lands in a corridor already drawing tenants. Terranova Corp. signed 17 new leases and one expansion totaling 96,791 square feet and more than $56 million in rent on and around Miracle Mile over five months beginning in November 2025, according to the Coral Gables Gazette.

"Coral Gables is one of the few markets really driven by local patronage versus tourism," Terranova founder Stephen Bittel said in an April Coral Gables Gazette report. "It's a very secure and dependable base to support these tenants."

Tony Latham, Bacardi's North America regional president, now works from the new space. The office houses more than 18,000 company and family artifacts and an extensive Cuban art collection.

Kathleen Procario, vice president for people at Bacardi North America, said the office honors the company's heritage following its forced exile from Cuba, according to Propmodo. The family-owned company was founded in Santiago de Cuba in 1862.

Coral Gables rents trail Brickell and Miami Beach

Coral Gables office rents averaged $62 per square foot in the first quarter of 2026, according to Savills data cited by the Gazette. That compares with $90 per square foot in Brickell and $113 in Miami Beach. A separate Miami Realtors analysis pegged average asking rents in the Coral Gables-Downtown submarket at $67.20 per square foot as of July 2026, with vacancy at 8%.

Inside the Plaza Coral Gables development

Plaza Coral Gables spans 2.25 million square feet across seven acres and includes 455,000 square feet of offices, 165,000 square feet of retail, 170 residences and a 242-room Loews hotel.

Bacardi's lease lists Jose Antonio Perez Helguera of Agave Holdings as landlord, according to commercial real estate tracker Traded Miami. The office is now open and staffed.