BM2 Realty and MG3 Developer Group paid $4.85 million for a street block in Ojus with plans for a retail and office project.
A joint venture between the two firms closed on the 52,500-square-foot development site near Aventura Mall, BM2 Realty principal Ezequiel Baredes told The Real Deal.
The developers plan to build a 120,000-square-foot retail and office building in partnership with the Scheck Group and Solomon Capital Management at 18801 West Dixie Highway.
About 50,000 square feet of office space has been reserved, Baredes told TRD. MG3, led by Gustavo Bogomolni, Marcelo Saiegh and Hernan Leonoff, is also building the project and will relocate its headquarters there.
Elk Capital LLC sold the land, property records show. The company paid $2.6 million for the Spirit of Christ Church site in 2014, which means it nearly doubled the last sale. Triarch Capital Group executives Mario Grosfeld and Jorge Linkewer control the LLC, according to state records. Triarch bought the Doral Costa office park for $73.75 million earlier this year.
A number of new projects are in the pipeline for Ojus, a former city in northeast Miami-Dade County. Prive Land Banking is building a 12-story office condo at 19790 West Dixie Highway, and has purchased more land in the area. A company tied to Premium Developers Group is also going to build office condos nearby at 2655 Northeast 186th Terrace.