Rilea Tops Off IFB Building

International Financial Bank’s (IFB) new 45,000 square foot headquarters, one of the few commercial development projects currently underway in the Miami market, is moving forward on schedule following its June 2010 groundbreaking. Construction of the seven-story building has officially “topped off,” with the project’s completion set for the fall of 2011. As IFB’s corporate headquarters, the Class A building will comprise 45,246 of rentable office and retail space and a 135-space parking garage.
Construction of the project is being managed by Rilea Group.  The IFB project represents Rilea Group’s renewed focus on growing its construction management practice following the completion of its most recent equity development projects: 1450 Brickell office tower and One Broadway luxury apartment complex, both in Miami’s Brickell Financial District.
“In taking on project management assignments, Rilea Group is able to assist well-capitalized clients seeking an experienced development team to oversee the often complex ground-up construction process,” said Rilea Group President Alan Ojeda. “The International Finance Bank project benefits from sound economics and a premier location, making this engagement a win-win for our firm and the bank’s ownership team. We look forward to securing additional fee-for-service assignments in the coming year – and to completing those projects on-time and on-budget.”
IFB’s new headquarters will be situated at the northeast corner of southwest 8th Street (Calle Ocho) and 37th Avenue (Douglas Road).