The Merrick Plaza office building in downtown Coral Gables has been sold for $14m to P&C 2199 Ponce, a company headed by insurance executive Pablo Cejas. The transaction involved the sale of two parcels at 2199 Ponce de Leon Boulevard which was financed with a $10.48 million mortgage obtained from TotalBank. The 49,856 square foot office building and five-story parking garage built in 1980 were last sold for $11.25m in 2004. Tenants of the building include HSBC, the advertising firm GrupoUno International, and architects RJHA.
