A new medical office building on the main campus of Mercy Hospital in Miami’s Coconut Grove neighborhood will begin pre-leasing, JLL announced on Tuesday.Mercy Medical Arts, a four-story development, will include 115,000 square feet of medical office space and will be completed next spring. JLL was tapped as the exclusive leasing firm, according to a press release.
In September, Onicx Construction closed on a $20 million construction loan for the property, at 3683 South Miami Avenue. The Tampa-based general contractor is the developer behind the waterfront building, which will also include visitor and physician parking.
“Strategically located between Brickell Financial District and Coral Gables in the heart of Coconut Grove, the newly built Mercy Medical Arts will offer physicians and medical practitioners an opportunity to lease state-of-the-art medical office space at competitive leasing rates,” JLL’s Noël Steinfeld said in a press release. “With Miami’s office market experiencing a strong demand and limited supply of quality medical office space, the four-floor property will appeal to tenants seeking a great location within a world-class hospital complex.”
The project is part of Mercy Hospital’s renovations, which include a new helipad and boat dock area, a new intensive care unit and upgrades to patient floors and labor and delivery suites. – Katherine Kallergis