Baptist Health South Florida Acquires Former City National Bank HQ in Coral Gables for $39 Million

City National Bank of Florida has sold its former headquarters building in Coral Gables to nonprofit hospital operator Baptist Health South Florida for $39 million. The transaction involves the four-story, 121,418-square-foot office property located at 2855 South Le Jeune Road, which was originally built in 2007. This sale comes after City National Bank relocated its operations earlier this year to a larger, 144,878-square-foot leased space at 2701 South Le Jeune Road, aimed at consolidating its workforce from across Miami-Dade County.

Baptist Health South Florida, one of the region's largest health networks, acquired the asset. Although the buyer's specific plans for the building remain unconfirmed, the organization already operates a corporate office nearby. The sale underscores ongoing investment activity within the Coral Gables office market, which has experienced several substantial transactions recently, including a nearly $100 million sale in July and a $120 million property sale in January. For real estate professionals, this deal signifies the continued demand for well-located office assets in affluent South Florida submarkets, potentially signaling opportunities for adaptive reuse or strategic repositioning by institutional buyers.