Development site fetches $5.5M

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A Mexico City-based investment firm purchased a vacant, 43,000-square-foot commercial development site from Biscayne Medical Properties LLC for $5.5 million, and is looking to sell the property to a developer. The site, located on Biscayne Boulevard along the county line between Miami-Dade and Broward, and across from Gulfstream Park Racing & Casino, has been approved for a 70,000-square-foot medical office building.