Megacenter Miramar mixed-use project scores construction loan

Developer plans 267,325 sf of warehouse, storage and office space

Miami /
Nov.November 17, 2017 10:30 AM

Rendering of Megacenter Miramar (Credit: Link Construction Group)

An entity of the Chile-based real estate developer and self-storage operator Red Megacentro just scored a $15.75 million construction loan for its mixed-use development in Miramar that will feature office, storage and warehouse space, records show.

The 267,325-square-foot planned project at 7451 Riviera Boulevard will include 169,427 square feet of warehouse space, 59,364 square feet of self-storage and 38,534 square feet of office. Records show FirstBank Puerto Rico provided the financing.

Megacenter Miramar LLC, led by Patricio Ureta and Pablo Wichmann, bought the 14.7-acre site last year from Broward College for $10 million.

The project is being designed by architecture firm Cartaya & Associates and is slated to be completed by the second quarter of 2018, according to the contractor’s website.

Rendering of Megacenter Miramar (Credit: Link Construction Group)

A notice of commencement filed last year shows the company started remodeling the interior of an existing 61,300-square-foot building on the property. More than 200,000 square feet of the project would be new construction.

In 2012, Ureta and Wichmann partnered with Red Megacentro to develop its business model in the United States. The Chilean-based company has built 40 storage facilities in Chile, Peru, and Miami, with a focus on redevelopment projects, according to its website.

The partnership is also behind Megacenter Brickell, a two-tower, 148-foot-tall building near the Brickell area that will include storage, offices, apartments, and a wraparound mural.


Related Articles

arrow_forward_ios
Terranova’s Stephen Bittel with 93 Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Ytech's Yamal Yidios with 1500 Brickell Avenue
Ytech buys historic Brickell château, plans restoration
Ytech buys historic Brickell château, plans restoration
50 and 60 Northeast Third Street and 222 and 234 Northeast First Avenue (Google Maps)
Namdar pays $41M for downtown Miami apartment towers dev site
Namdar pays $41M for downtown Miami apartment towers dev site
View of the buildings at 612, 817 and 815 Lincoln Road in Miami Beach and Terranova’s Stephen Bittel (Google Maps, Terranova Corp)
Lease roundup: Terranova, Millennium, R&B, Duke nab tenants
Lease roundup: Terranova, Millennium, R&B, Duke nab tenants
From left: Rockpoint's Bill Walton, AvalonBay Communities' Benjamin W. Schall and Timothy J. Naughton, and The Altman Companies' Seth Wise with 11385 SW 30th Ct and 2750 SW 113th Ln (Rockpoint, LinkedIn, Trulia, Avalon Bay, Getty)
AvalonBay pays $295M for two Miramar complexes
AvalonBay pays $295M for two Miramar complexes
1600 Northeast 12th Terrace
Triangle Services pays $17.5M for Fort Lauderdale industrial building
Triangle Services pays $17.5M for Fort Lauderdale industrial building
Link Logistics' Luke Petherbridge with 115.7-acre site at 21001 Northwest 27th Avenue (LinkedIn, Google Maps)
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
EverWest Real Estate Investors' Rick Stone and Tyler Williams; rendering of the newly built industrial property at 10900 Northwest 146th Street in Hialeah Gardens (Commercial Property Group, EverWest Real Estate Investors, iStock)
EverWest buys Hialeah Gardens industrial building for $43M
EverWest buys Hialeah Gardens industrial building for $43M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...