FOR IMMEDIATE RELEASE
Colliers South Florida represented the landlord, Brookfield Properties, in the lease transaction
Coral Gables, FL 2025-11-21- With the Kendall submarket approaching saturation, Coral Gables has emerged as a key beneficiary of heightened demand for medical offices. Kendall’s medical office market has tightened significantly, with vacancy dropping to just 3.9% in Q3 2025. With only 3.8 million square feet of existing inventory and no new supply delivered since 2022, limited availability has prompted many tenants to expand their searches northward into Coral Gables, where a broader range of options is available.
Amid a strong upswing in leasing activity and tenant demand across Coral Gables, Colliers is pleased to announce that metabolic health center, Well by Messer, has secured a lease for 5,417 square feet at The Offices at Merrick Park, located at 4425 Ponce de Leon Boulevard in Coral Gables, FL. Colliers Vice Chair & Healthcare Fellow Stephen Rutchik and Vice President Tom Farmer represented the landlord, Brookfield Properties, in negotiating the lease transaction.
“We’re seeing a clear migration of medical users toward Coral Gables as availability in Kendall remains extremely limited,” said Rutchik. “The Offices at Merrick Park provides an exceptional setting for healthcare providers, combining a prime Coral Gables location with direct access to the Shops at Merrick Park and proximity to major transit routes. Brookfield Properties’ continued investment in the asset further elevates the tenant experience and strengthens the building’s position as a leading destination for medical and professional users.”
The Offices at Merrick Park encompass 126,021 square feet of Class A office space across five floors, directly adjacent to the upscale Shops at Merrick Park, home to more than 100 luxury retailers and restaurants. The property is in its final phase of transformation, nearly completing a comprehensive renovation that delivers a refreshed main lobby, an enhanced arrival experience, and the addition of premium valet service. Featuring exceptional visibility along U.S. Highway 1 and a covered walkway that seamlessly connects tenants to the retail center below, the building offers both accessibility and convenience. With ample on-site parking and the option for expansion through adjacent mall facilities, The Offices at Merrick Park stands as one of Miami-Dade’s most connected and prestigious business addresses.
“Coral Gables was a natural fit for the practice’s first Florida location,” said Farmer. “The submarket offers an exceptional mix of high-quality medical office options, accessibility to major hospitals, and proximity to an affluent residential base. These fundamentals, combined with limited new supply and strong leasing momentum, make Coral Gables one of the most attractive and competitive markets for healthcare providers looking to establish or expand their presence in South Florida.”
Coral Gables’ medical office vacancy measured 7.4% in Q3 2025, providing valuable flexibility for expanding healthcare users. Leasing activity has surged since early 2024, reaching a peak of more than 48,000 square feet in Q2 2024 and maintaining steady momentum with over 30,000 square feet leased in Q3 2025. With no new medical office developments underway in either submarket, competition for quality space is poised to intensify, driving rent growth and underscoring Coral Gables’ position as a sought-after destination for tenants seeking expansion opportunities beyond the tightly constrained Kendall market.
Amid this wave of activity, Coral Gables continues to draw prominent healthcare users seeking high-quality office environments. Earlier this year, Rutchik represented Nicklaus Children’s Health System in securing a 63,277-square-foot lease at Columbus Center for the relocation of its corporate offices, further exemplifying the submarket’s growing appeal among medical tenants.
Well by Messer is a specialized metabolic health practice led by a team of board-certified doctors and leading NY endocrinologist, Dr. Caroline K. Messer. Their multidisciplinary team includes experts in endocrinology (adult and pediatric), internal medicine, weight management, gynecology, plastic surgery, psychology, and nutrition, all working together to deliver tailored, cutting-edge care for hormonal and metabolic issues. The practice currently operates in New York and Connecticut, and this new location marks its expansion into Florida.
Brookfield Properties delivers high-quality, sustainable real estate across the global landscape, spanning office, retail, multifamily, logistics, and hospitality assets. The company specializes in making spaces more than just locations; offices where businesses thrive, retail destinations that bring communities together, homes designed for every stage of life, and logistics hubs underpinning modern supply chains. With leverage from the broader Brookfield ecosystem, they tap a global network of intelligence and innovation to optimize decisions.
For further information, please contact:
Media Contact
Paola Iuspa-Abbott on behalf of Colliers South Florida
Top of Mind PR
paola@topofmind-pr.com
305-726-5848
Maria Russo
Senior Marketing Manager, South Florida
maria.russo@colliers.com
561-549-9460
About Colliers
Colliers is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering, and Investment Management – we have a proven business model, an enterprising culture, and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately 20% compound annual returns for shareholders, fuelled by visionary leadership, significant inside ownership and substantial recurring earnings. With $5.5 billion in annual revenues, a team of 24,000 professionals, and $108 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
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