After moving on the road earlier this year, City National Bank of Florida has sold its former headquarters in Coral Gables, Fla., for $39 million, property records show.
Non-profit hospital operator South Florida Baptist Health bought a four-story office building in 2855 South Le Jeune Roadtwo blocks west Ponce Circle Park, between Sevilla and Palermo avenues. The 121,418 square foot building was built in 2007 on a 0.7 acre site.
Last year, the bank signed a lease for 144,878 square feet to move on 2701 South Le Jeune Road to bring its workforce, which is based in Miami-Dade County, under one roof. At the beginning of this year, the tenant moved to a 15-story property, which is owned by Zarabillionaire founder Amancio Ortega.
In the former headquarters, City National Bank of Florida first had ground-floor space before purchasing an office condominium on the top floor for $10 million in 2017. South Florida Business Journal reported.
It’s unclear how Baptist Health South Florida, one of the region’s largest health networks, plans to use the building. It operates a corporate office in 6855 Red Roadnear South Miami.
Coral Gables, an affluent suburb next to Miami, has seen an increase in office sales in recent months. In July, the insurance giant PGIM sold assets of 717,805 square meters for almost $ 100 million. In January, Deutsche Bank downloaded The 3-hectare property is worth almost $120 million.
A spokeswoman for City National Bank of Florida declined to comment. A representative for Baptist Health South Florida did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.