By Coral Gables Gazette staff
Terrabank will relocate its corporate headquarters from Coral Way to downtown Coral Gables, consolidating operations at the Columbus Center and opening a new ground-floor banking center for customers.
The move, scheduled for completion by March 31, shifts the bank’s main office to One Alhambra Plaza in the heart of the city’s central business district. The new headquarters will occupy approximately 40,000 square feet across two floors and include an outdoor terrace and covered parking.
City records and federal filings show the relocation reflects both a strategic consolidation and a repositioning within one of South Florida’s most competitive office markets.
A move confirmed through federal filings
The Office of the Comptroller of the Currency approved Terrabank’s application to relocate its main office in September 2025, following a filing submitted the previous month. The application lists the new headquarters at 5 Alhambra Plaza within the Columbus Center complex and the current main office at 3191 Coral Way.
That approval establishes the formal regulatory framework for the move and confirms the bank’s shift into downtown Coral Gables.
A larger, centralized headquarters
According to project materials, the new headquarters will span roughly 40,000 square feet across two levels. The space will be built out by Pradere Designer Workspaces and is designed to bring corporate operations together in a single location.
In addition to executive offices and administrative functions, the relocation introduces a new ground-floor banking center intended to serve walk-in customers — a feature not currently part of the Coral Way headquarters.
The Coral Way location will remain open during the transition while the downtown space is completed.
Positioning in a competitive office market
The Columbus Center sits within Coral Gables’ primary business district, a corridor defined by Class A office buildings, proximity to Miracle Mile and Giralda Plaza, and a growing concentration of corporate tenants.
In recent years, Coral Gables has attracted a steady flow of companies seeking upgraded office space in a walkable urban setting. That demand has strengthened leasing activity and reinforced the city’s position as a regional business hub.
Terrabank’s relocation aligns with that broader trend, placing the institution within a cluster of firms that have chosen downtown Coral Gables for headquarters and regional offices.
A shift in footprint and access
Earlier reporting indicated a smaller initial footprint for the project, suggesting the scope expanded as planning advanced. The finalized layout reflects a larger operational presence and a stronger public-facing component through the new banking center.
For customers, the transition is expected to be phased. Existing services at the Coral Way location will continue while the new facility is built out, with updated hours and opening details to be announced once construction is complete.
What comes next
The relocation is expected to conclude by the end of the month, at which point Terrabank will operate from its new downtown headquarters. The project will centralize corporate functions and establish a new point of access for customers in the city’s core.
For Coral Gables, the move adds another headquarters presence to a district that continues to evolve as a center of business activity, reinforcing a pattern of investment in high-quality office space and walkable commercial corridors.
