Cam Group has acquired a 2.05-acre office building in Coral Gables for a total of $18.5 million. The property, located at 760 Ponce De Leon Boulevard, 112 Avila Court, and 120 Avila Court, spans 17,245 square feet with an impressive price per square foot of $1,073. Granada Financial served as the lender in this transaction.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $18,500,000
• Address: 760 Ponce De Leon Boulevard, 112 Avila Court & 120 Avila Court
• Market: Coral Gables
• Acres: 2.05
• SF: 17,245
• PPSF: $1,073

Joel Campo, representing Cam Group, served as the buyer in this deal, while Bryan Beal, a representative of B&B Investments Management, acted as the seller. The transaction had a significant impact on the Coral Gables market, highlighting its potential for redevelopment and revitalization. Notably, Cam Group plans to transform the office building into a $35 million medical office complex, featuring medical offices, commercial space, and parking across five stories. The project has been designed by Behar Font & Partners.