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CORAL GABLES, FL-IVC Television Inc. leased 16,643 sf, or nearly all of the second floor, at 2525 Ponce de Leon, the new, 12-story, 250,000-sf, class A office building developed by Houston-based Hines as part of a mixed-use development one block south of Miracle Mile. The property, which broke ground in June 2003, will open in April 50% leased, according to Gonzolo Cortabarria, Hines’ project manager.

Terms of the long-term IVC lease are undisclosed. According to third-quarter data from the South Florida office of CB Richard Ellis, the average asking rental rate for class A office space here is $29.88 per sf. In its third-quarter report, the Miami office of Grubb & Ellis pegged the class A office asking rate here at $29.34 per sf.

IVC will relocate 60 employees from Waterford. The company hosts and provides services to three leading cable and satellite TV networks with Latin operations: A&E Mundo, E! Entertainment Latin America and History Channel Latin America. Alan Kleber of the metro area office of Cushman & Wakefield represented the tenant in negotiations.

Smallwood, Reynolds, Stewart, Stewart & Associates designed the yellow building with a Mediterranean exterior articulation and roofing, which has three ground-floor restaurants. It is part of a mixed-use development that contains residential condos, retail and a public garden. The restaurants are Fleming’s Prime Steakhouse and Wine Bar, La Cofradia and Sacha’s Courtyard Café. Other office tenants are the law firms of Adorno & Yoss, and Kozyak, Tropin & Throckmorton; Raymond James financial services; and Schumann/Steier, a global petroleum marketing firm. The building also has a drive-thru Wachovia bank branch.

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