The Real Deal Miami

Former Doral pharmaceutical plant to become mixed-use project

11.9-acre site sold for $26M

January 14, 2015 01:15PM

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8800 Northwest 36th Street in Doral

8800 Northwest 36th Street in Doral

New owners of the site of a former pharmaceuticals plant in Doral have plans to develop it into a retail, hotel and commercial project.

Affiliates of the Israeli-based Teva Pharmaceuticals sold the 78,130-square-foot building to Houston-based Hines affiliate for $26 million, according to published reports.

The 11.9-acre site, located at 8800 Northwest 36th Street, is just south of the Trump National Doral Resort and golf course.

Hines plans include demolishing the plant and building 550 residential units, 220 hotel rooms, nearly 48,000 square feet of retail space and 365,000 square feet of office space, the South Florida Business Journal reported.

Hines would build a bridge to the property from the Doral Corporate Center at 8750 Northwest 36th St., which it’s owned since 2006. [South Florida Business Journal]Katherine Kallergis

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