Agave Holdings Taps JLL to Manage Miami-Area Mixed-Use Asset

JLL has been chosen to run the residential portion of The Plaza Coral Gables.

The Plaza at Coral Gables. Image courtesy of JLL

Agave Holdings has enlisted JLL to run the residential portion of a mixed-use development in Coral Gables, Fla.

Miami-based Agave Holdings broke ground on the seven acre development, The Plaza Coral Gables, in December 2017, with the project reaching final stages of construction in summer of 2022. The company secured $100 million of financing for the first phase of the property in June 2019.

Agave Holdings first selected JLL to manage the completed portions from the first phase in January 2022. Those sections included two Class A office towers, a parking garage, retail space and common amenity areas.

JLL also manages Agave’s The Reserve at the Plaza, which totals 135 luxury apartment units, and the Galiano Residences, which consists of 39 low-rise townhouses. Now that JLL will manage the residential elements of The Plaza at Gables, most of the site will be under its control. The broader project also includes The Loews Hotel, a 242-key hotel, which is managed separately.

Located at 2901 Ponce de Leon Blvd., the development will total more than 2.2 million square feet with office, multifamily and retail elements. The design also calls for the creation of a one acre public plaza and improvements to nearby Ponce Circle Park. The development is near local attractions like Miracle Mile, Merrick Park and Coconut Grove.

Mixed-use master planned developments in Miami area

Agave previously developed the 396 Alhambra Circle office building in Miami and also owns and manages more than four million square feet of Class A properties in Mexico and the U.S., with a high concentration of its projects in Miami and Chicago.

Other developers have been active in the Coral Gables submarket, including 13th Floor Investments and Adler Group. The two companies are working together on a seven acre master-planned development, Link at Douglas, which includes residential, retail and office space.

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