Coral Gables captures full block near city hall with medical office acquisition

The city of Coral Gables now owns the entire 400 block on Biltmore Way near city hall with the acquisition of ShareMD’s medical office building after months of negotiations and commission approvals.  The city dropped $24 million for the four story, 53,030-square-foot Biltmore Medical Center at 475-495 Biltmore Way, according to a release from Tere Blanca’s Blanca Commercial Real Estate, which served as the sole leasing agent for the property.  The sale breaks down to $453 per square foot, a 65 percent spike from the $275 per square foot that Jacksonville-based ShareMD paid in 2019. That $14.6 million purchase was […]

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