University of Miami sells land for Walmart-anchored project
LA Fitness is also planned as an anchor
Ram Realty bought land north of Zoo Miami for $9.6 million, for a mixed-use development under construction anchored by Walmart.
Palm Beach Gardens-based Ram bought the site at 15601 Southwest 127th Avenue from the University of Miami, according to records.
The development has been known by the names Coral Reef Commons, as well as Botanical. Retail that is already open at the development include Starbucks, Chili’s and Panera. The development also includes Mareas at Botanical, a 408-unit multifamily project.
An LA Fitness is also planned for the mixed-use project, which promises a total of 900 residential units, according to online listings. Bozzuto Group is handling leasing for Mareas at Botanical. Centre-Line Real Estate handles leasing for the retail space.
Ram previously bought 80 acres from the University of Miami for the mixed-use project in 2014.
The project became complicated by protected pine rockland on the site, which Ram agreed to keep as a preserve.
Environmentalists unsuccessfully sued to stop the development.
In August, a 243-unit multifamily building developed by Ram Realty in Fort Lauderdale launched virtual leasing after gaining its certificate of occupancy.