A company affiliated with Baptist Health South Florida just paid $11.3 million for a medical office property directly across from the hospital.
Baptist Health Enterprises bought the 43,000-square-foot Plaza Galloway at 9055 Southwest 87th Avenue for $263 per square foot.
Plaza Galloway sold the five-building property, which is managed by Joanne Mitchell. Plaza Galloway initially bought the property for $2.5 million in 1999, records show.
Baptist Health South Florida is led by Brian Keeley and operates 10 hospitals, along with a network of more than 50 outpatient facilities. The non-profit hospital company has been aggressive in acquiring real estate in South Florida in recent years. Baptist Health did not immediately respond to a request for comment.
Paul Silverstein of RE/MAX Advance Realty’s Commercial Division represented the seller in the transaction.
The property sits on 2.93 acres and was built in 1973. The project is one of the last remaining redevelopment opportunities near the hospital complex, according to a press release.
Baptist Health is also under contract to pay $41.5 million for the development site of the Collection Residences in Coral Gables, court documents show.
Baptist Health has been expanding throughout South Florida in recent years. It recently opened a four-story, 60,000-square-foot outpatient facility at Crescent Heights’ mixed-use development at 709 Alton Road in Miami Beach.
/wp-content/uploads/2020/08/florida-medical-space-logo.png00ADMIN/wp-content/uploads/2020/08/florida-medical-space-logo.pngADMIN2018-11-13 02:54:452018-11-13 02:54:45Baptist Health Pays $11M For Office Project Across From Hospital
The Miami Heat and Baptist Health South Florida have reached a first-of-its-kind partnership for both organizations, as they broke ground on a new health care center.
The Miami Heat Sports Medicine Center at the Miami Orthopedics & Sports Medicine Institute is part of a multiyear partnership between the NBA franchise and the nonprofit health system. Renovations will start at 1150 Campo Sano Ave., next to Doctors Hospital in Coral Gables, to create a four-story, 49,000-square-foot facility for advanced sports medicine. It should be open in summer 2019.
The Heat made an unspecified donation to support the expansion.
“Throughout our history, Miami Heat players and staffers have experienced world-class care by the industry-leading medical team at Miami Orthopedics & Sports Medicine Institute,” said Jeff David, executive VP and chief revenue officer of the Heat Group. “Our long-standing and fruitful partnership with Baptist Health has produced The Miami Heat Sports Medicine Center, which will be a guardian of our community’s health and committed to excellence at every level.”
The deal adds a strong branding partner for Baptist Health, the region’s largest hospital system.
The support of the Heat will also allow Baptist Health to expand its orthopedic facility, creating a new ambulatory surgery center and hosting more clinical education.
“This is a truly unparalleled partnership that will make an incredible difference in the future of our Institute, and in the expert care provided to our patients and the community,” Miami Orthopedics & Sports Medicine Institute and Doctors Hospital CEO Nelson Lazo said.
/wp-content/uploads/2020/08/florida-medical-space-logo.png00ADMIN/wp-content/uploads/2020/08/florida-medical-space-logo.pngADMIN2018-09-04 12:01:092018-09-04 12:01:09Miami Heat And Baptist Health Break Ground On Health Center
