An affiliate of Paragon Group, 6201 Sunset Medical, LLC purchased the hard corner located on SW 62nd Avenue and Sunset Drive in the heart of South Miami’s medical district. The site, 25,000 sf or .6 acres is located between Baptist Hospital and Larkin Hospital. Paragon’s affiliate purchased the property in June 2015 for $8.8 million dollars. The original plan was to develop a 62,000 sf Medical office building with a retail component on the ground floor. In early 2016, Paragon commenced with the site plan approval process (please see artist rendering and brief project description below).
During the pre-leasing phase in early 2017, Paragon was approached by its neighbor, Baptist Hospital with an offer to purchase the property. After a lengthy negotiation, Paragon Group closed on the sale in December 2017. The sale price was $12.1 million dollars generating an average annual return for the company of nearly 19%.
Located at 6201 Sunset Drive, the environmentally sustainable designed building will have 62,000 sq ft. of office and retail space, and feature the amenities of a modern medical office building to provide wellness care, especially the popular patient and family-friendly feel.
• Class-A medical office building
• Designed for efficiency and client comfort
• Excellent network access for your technology needs
• Located next to Baptist South Miami Hospital
• Located adjacent to Larkin Community Hospital
• Structured and reserved parking