A Coral Gables, Fla.-based medical office building originally constructed in 1954 has sold for $18.5 million, according to an Oct. 20 report from ConnectCRE.
The 17,245-square-foot building, which was last traded for $2.65 million in 2001, was acquired by the Cam Group, which has plans to redevelop it.
The redevelopment will include construction of a $35 million medical complex. The new building will feature 89,370 square feet of medical office space and 17,260 square feet of commercial space.