City National Bank Sells Former Downtown Miami HQ

Dec 17, 2019 No Comments by

City National Bank (CNB) has sold its longtime downtown Miami headquarters building and relocated its operations teams to brand-new, modern offices in the iconic Miami Tower.

CNB sold its building, located at 25 W. Flagler Street, for $25 million to 25 West Flagler Realty, LLC, an entity owned by investor Moishe Mana.

The transaction closed on December 17.

CNB occupied more than 50,000 square feet of office and retail space within the 140,000 square foot, 12-story building. CNB will continue to have a banking center on Flagler Street.

Employees of CNB’s Flagler building have moved to the bank’s new offices at the nearby Miami Tower – where the bank’s colorful logo illuminates the Miami skyline. Across five floors, CNB occupies more than 100,000 square feet of office space at the tower and has a banking center on the first floor.

CNB’s corporate headquarters relocated to Coral Gables in the spring of 2019, and the bank occupies office space at 1450 Brickell in the Brickell Financial District, giving CNB a presence in South Florida’s three largest hubs for business and finance.

 

“Building Florida’s iconic bank begins with our people, and attracting and retaining the top talent in the market means offering our team a best-in-class workplace,” City National Bank President & CEO Jorge Gonzalez said. “Our modern offices in Downtown, Coral Gables and Brickell will provide our employees an environment that promotes collaboration and innovation, with state-of-the-art technology in a modern workplace – resulting in an even better experience for our clients.”

CNB completed the purchase of TotalBank in 2018 and recently announced plans to acquire Executive National Bank. It’s combined assets total approximately $16 billion – up from just $3 billion a decade ago.

CNB was represented by law firm Berger Singerman and real estate brokerage Avison Young.

 

 

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Industry News, Miami-Dade County Office, NA, Office
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