The Real Deal Miami

Hospital takes foreclosed South Miami office building for $212 per square foot

January 25, 2010 10:56AM

A vacant South Miami office building with 17,000 square feet of rentable space has been sold to Larkin Hospital for $3.6 million, or $212 per square foot, according to brokerage Marcus & Millichap. The property, which had been handed over to lender First Bank of Puerto Rico after it foreclosed on its former owners, represented one of the largest sales of the year, the brokerage said. The hospital intends to use the 30,000-square-foot building at 5996 SW 70th Street, called GS2, for hospital staffing. TRD