Development team’s office complex project near Aventura wins approval

The 290K sf building will break ground soon and is already half sold

Miami /
Mar.March 12, 2018 03:30 PM

Renderings of 188 Aventura Centre (Credit: Modis Architects)

A joint venture just won approval for a nine-story office complex that will rise near Aventura, set to break ground soon, The Real Deal has learned.

The developers: BM2 Realty, MG3 Developer Group, Scheck Group and Solomon Capital Management will build 188 Aventura Centre, a 290,000-square-foot office building.

The project, which just received site approval from the City of Miami, will include about 53 office condos and 11,000 square feet of retail space.

The joint venture paid $4.85 million in 2016 for the site at 18801 West Dixie Highway. It was previously the site of a 9,345-square-foot church building, and sits just west of the Town Center Aventura shopping center.

The building, designed by Modis Architects, will include a lounge deck on its sixth floor equipped with a bar, ping-pong table, TV and an outdoor terrace for owners.

Ezequiel Baredes, CEO of BM2 Realty, said 188 Aventura Centre is more than 50 percent pre-sold. Each partner company involved will be moving its headquarters office into the building.

The project will be self-financed and is estimated to cost about $45 million, according to Baredes. The developers plan to break ground within the next three months, and aim to complete the project by the end 2019, Baredes said.


Related Articles

arrow_forward_ios
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
Grant Cardone and 18851 Northeast 29th Avenue in Aventura (Getty, Google Maps)
Grant Cardone buys Aventura office complex for $93M
Grant Cardone buys Aventura office complex for $93M
(Photos courtesy of Miami Historic Preservation, Smith Aerials, Colliers)
Development site near MiamiCentral hits the market
Development site near MiamiCentral hits the market
Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)
Arbor Management buys multifamily dev site near Aventura for $10M
Arbor Management buys multifamily dev site near Aventura for $10M
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
arrow_forward_ios

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

Loading...