City National Bank Sold Coral Gables Headquarters

Baptist Health South Florida purchased the 121,418-square-foot office building for $39 million.

Updated on Oct. 8, 2026 in Commercial

City National Bank Sold Coral Gables Headquarters

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City National Bank of Florida has sold its former headquarters building located at 2855 South Le Jeune Road in Coral Gables for $39 million. The buyer of the office property is Baptist Health South Florida.

Why it matters

The transaction follows City National Bank of Florida's relocation to a larger 15-story headquarters property located at 2701 South Le Jeune Road earlier this year. The sale marks a significant shift in ownership for the 2007-built commercial site.

The sold property comprises 121,418 square feet of office space situated on a 0.7-acre site. The building was originally constructed in 2007.

The players

City National Bank of Florida

This is a financial institution that recently transitioned its headquarters to a larger facility within the Coral Gables area.

Baptist Health South Florida

This is a large healthcare organization that has expanded its local real estate holdings through this direct purchase.

The details

City National Bank of Florida completed the sale after moving its operations to a 144,878-square-foot facility across the street. The bank had previously maintained its presence in the building through office condos acquired in 2017.

The building was constructed in 2007.
City National Bank bought top-floor office condos for $10 million in 2017.
The bank signed a 144,878-square-foot lease to relocate in 2025.
The bank relocated to its new headquarters in 2026.
The sale of the property was finalized in October 2026.

Culture Shift

This sale reflects a broader trend of commercial real estate turnover in the Coral Gables area, where institutional owners are offloading older office assets following major corporate relocations. The transaction follows recent high-value regional sales involving other major financial firms.

Local residents and professionals will likely see a transition in the use of the 2855 South Le Jeune Road property as Baptist Health South Florida takes over the site. The move ensures the continued utilization of this major office building in the Coral Gables business district.

The takeaway

Large-scale commercial property sales often follow strategic corporate relocations as firms consolidate their office footprints. This transition highlights the ongoing evolution of office space usage within the local professional corridor.