With this acquisition, the City now controls the entire block, giving it the flexibility to plan for future growth and to maximize the site’s utility for Coral Gables residents.
New ownership is planning significant renovation and repositioning of the highly visible property, which is being offered for lease.
Colliers Executive Vice President Gary Gottlieb, Senior Vice President Darcie Lunsford and Client Services Specialist Cara Girardi will lead leasing and marketing efforts on behalf of the new ownership.
The seller successfully converted the first five floors of the eight-story building for medical use, with each level providing direct access from the parking garage.
The transactions include medical office, retail, industrial, multifamily and mixed-use properties across South Florida and Texas.
The suburban, campus style, professional and medical office complex totals 254,015 square feet.
The property sold for $40 million.
Florida Medical Space developed Gateway Medical Plaza in 2021 to meet the needs of a long-time client who was looking for a new, state-of-the-art headquarters to relocate its fertility center.
Upon completion of the MOB, NAI Miami | Fort Lauderdale will serve as the exclusive leasing representative.
The property is currently improved with the Aventura Offices and Medical Center, a two-story office and medical office building totaling about 37,000 square feet.