The Real Deal Miami

Baptist Health purchases Coral Gables office building

South Florida nonprofit already occupies 60 percent of the property

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