Ryder Announces New Headquarters in Coral Gables

Continues Evolution with State-Of-The-Art Office Space, Building on Its 90-Year-History in South Florida

MIAMI--(BUSINESS WIRE)-- Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, today announces the signing of a long-term lease for a new headquarters location at the state-of-the-art Colonnade office tower in Coral Gables, Florida.

Ryder announces new corporate headquarters location in Coral Gables, FL. Mock-up rendering of Colonnade office tower showcases the Ryder name and iconic compass logo which will be featured on the building. (Photo: Business Wire)

“In our 90th year, it was important that we honor our founding and remain headquartered in Miami-Dade County which continues to be a logistics gateway and a county with a growing technology and innovation footprint. Coral Gables is a nationally recognized and business-friendly city that will enable us to continue to attract and retain the best talent, and we look forward to calling it our new home,” says Ryder Chairman and CEO Robert Sanchez.

Ryder had its beginning in South Florida and was founded in Miami in 1933 by Jim Ryder. The new office space is to be ready for occupancy in early 2024.

“As Ryder continues to grow, we will have a state-of-the-art headquarters where we can work together, allowing us to better serve our more than 45,000 customers, current and future employees, and loyal shareholders,” adds Sanchez.

The 11-story, Mediterranean-styled building, which will be adorned with the Ryder name and iconic compass logo and renamed Ryder Colonnade, is located at 2333 Ponce de Leon Boulevard at the corners of Coral Way and Ponce de Leon in the heart of the Coral Gables business district. Ryder is slated to occupy two floors of the building. While most of Ryder’s nearly 50,000 workforce is employed throughout North America, the Coral Gables office will be home to approximately 800 South Florida-based office employees, many of whom will remain working remotely or in a hybrid-work capacity. The new headquarters will be sized to a hybrid work style and be a customer showcase for Ryder technology and innovative solutions.

Ryder’s new headquarters space will be equipped with the latest technology infrastructure, which will deliver faster access to information, strengthen cross-functionality and teamwork, and foster stronger collaboration between the company’s business units and its more than 760 maintenance shops and 300 warehouse facilities.

The space will also include a customer innovation center showcasing Ryder’s unique expertise in advanced vehicle technology, e-commerce fulfillment, collaborative logistics, fleet optimization, and customer-facing automation technologies to provide customers with the tools needed to operate effectively in a changing world.

In March, Ryder announced it sold its current 16.8-acre global headquarters campus at 11690 Northwest 105th Street to Bridge Industrial, a privately owned, vertically integrated real estate operating company and investment manager. The property, which has housed Ryder’s 248,989-square-foot headquarters office building since 2005, was sold for $42.1 million.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including warehousing and distribution, e-commerce fulfillment, last-mile delivery, managed transportation, professional drivers, freight brokerage, full-service leasing, maintenance, commercial truck rental, and used vehicle sales to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, and Canada. In addition, Ryder manages nearly 260,000 commercial vehicles and operates approximately 300 warehouses encompassing more than 95 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmental stewardship, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, including when we expect to occupy our new headquarters and the features of the new space, are based on our current plans and expectations and are subject to risks, uncertainties, and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230516005141/en/

Amy Federman, 305-500-4989, afederman@ryder.com

Jonathan Mayor, 305-500-3161, jonathan_c_mayor@ryder.com

Source: Ryder System, Inc.