Construction on the 80,000-square-foot medical office building is expected to begin in November.
The 85,000-square-foot property is fully leased to the Florida Orthopedic Institute.
Designed with future growth in mind, the second floor includes shell space for expansion.
In a recent filing, the city revealed a wide range of valuations—depending on how debt is treated—highlighting how complex placing a price on a hospital can be.
The project calls for a one-story, 42,000-square-foot addition and a 42,120-square-foot renovation, expanding the hospital’s capacity to serve as Northeast Florida’s only Level I trauma center.