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MIRAMAR, FL-Stiles Construction Co. is expected to begin work in December on a 50,000-sf medical office building for Coral Gables, FL-based Miramar Management Co. Inc. which bought the development site in 1998 for $1.18 million.

Terms of the construction contract were not disclosed but area construction industry estimators tell GlobeSt.com on condition of anonymity a comparable medical office job can’t be done for less than $100 per sf or a total minimum hard cost of $5 million.

The subsidiary of Fort Lauderdale-based Stiles Corp., headed by Terry W. Stiles, anticipates it will complete work in July next year on the three-story building, which would lease space to medical personnel who serve nearby Palmetto General and Memorial West hospitals.

Stiles would not disclose projected rents but area brokers tell GlobeSt.com the market range is $18 per sf to $22 per sf.

A physician-owned company, Miramar Management expects the facility to provide space for 100 people including physicians and their staff. The company’s principals include Dr. Jorge E. Perez, president, and Dr. Albert R. Tano, vice president. The two also serve as principals of Emergency Pediatric Services.

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