The Real Deal Miami

Baptist Health purchases Coral Gables office building

South Florida nonprofit already occupies 60 percent of the property

May 01, 2014 04:30PM

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1575-san-ignacio

1575 San Ignacio Avenue in Coral Gables

Baptist Health South Florida dished out $9 million for a Coral Gables office building in a sale brokered by Marcus & Millichap’s Douglas Mandel and Benjamin Silver. The not-for-profit medical care organization already occupies 60 percent of the property.

The seller, H & H Yeung Corp., purchased the 30,688-square-foot building at 1575 San Ignacio Avenue in 2006 for $7.3 million. Mandel told the South Florida Business Journal that the building is fully leased.

Baptist Health has been picking up a fair amount of real estate of late. The company acquired the building next door to 1575 San Ignacio Ave. last year. [SFBJ] – Kerry Barger

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