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.
Integra is also working on a handful of workforce and affordable housing projects in Key West, Islamorada and Allapatta
Source: The Real Deal