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Megacenter Miramar mixed-use project scores construction loan
Developer plans 267,325 sf of warehouse, storage and office space
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.