The Real Deal Miami

Development team’s office complex project near Aventura wins approval

The 290K sf building will break ground soon and is already half sold
By Amanda Rabines | March 12, 2018 03:30PM

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.