The Real Deal Miami

Integra completes $300M Aventura ParkSquare project

Developer is delivering resi and office condos to buyers
By Katherine Kallergis | August 10, 2018 04:05PM

Aventura ParkSquare and Victor Ballestas

Integra Investments completed the final pieces of its $300 million Aventura ParkSquare mixed-use development by securing temporary certificates of occupancy for the residential and office condo components.

In all, the 1.2-million-square-foot project, at 2920 Northeast 207th Street, includes a 131-unit luxury condo building, a 100,000-square-foot Class A office component, 55,000 square feet of ground-floor retail and restaurant space, a 45,000-square-foot medical center, luxury senior living and a 207-key Aloft hotel.

The office building is sold out and the residential condos are about 75 percent sold, according to a spokesperson. Both condo buildings will sell out for an estimated $165 million, Integra principal Victor Ballestas said.

Units at the residential building range from about $650,000 to $1 million, and the majority of buyers are from Aventura. Michael Sadov, previously a director of sales at Paramount Miami Worldcenter, recently took over condo sales at ParkSquare.

Earlier this year, HealthGains paid about $7 million for a full floor of office space at the 7.5-acre development. Retail tenants include Barry’s Bootcamp, Angelo Elia Pizza Bar, BarTaco, Cycle House and Graziano’s restaurant. Retail rents ranged from about $50 a foot to $65 a foot, triple net, Ballestas said. The stores are expected to open by December.

The health and wellness-oriented project was designed by Zyscovich Architects with interiors by Steven G. The hotel was developed by Norwich Partners, and Royal Senior Care built the senior housing.

Integra is also working on a handful of workforce and affordable housing projects in Key West, Islamorada and Allapattah.