The University of Miami scooped up the Macy’s furniture store in Pinecrest for $40 million, signifying a potential expansion of its medical center network.

UM bought the one-story, 78,000-square-foot building at 13251 South Dixie Highway from New York-based Macy’s, according to records and real estate database Vizzda. Completed in 1972, the building is on a 4.6-acre site.

The Coral Gables-based private non-for-profit university has an extensive health care network through its Leonard M. Miller School of Medicine and University of Miami Health System. Stephen Wooldridge, chief of facilities operations for UM Health System, is listed on the deed, signifying that the university may have plans to repurpose the Macy’s building for a medical use.

University of Miami has been expanding its medical clinics throughout South Florida, most recently in Downtown Doral as well as North Miami.

Source:  The Real Deal