Trammell Crow Buys Land for Miami Project

Image by paulbr75 via Pixabay.com

Trammell Crow has bought a vacant, $10 million, 9-acre plot in Miramar, Fla., and plans to build a 250-unit development dubbed Alexan Miramar. The project is part of the city’s Monarch Lakes community. Workspace Property Trust was the seller and Avison Young Principal Keith O’Donnell and Colliers Executive Managing Director Mark Rubin brokered the off-market sale.

Plans call for two six-story buildings of 125 units each offering studios, one- and two-bedroom floorplans. Community amenities are slated to include a clubhouse and a pool. The site is adjacent to a four-story office building.

The site was previously considered for the third phase of an office development, O’Donnell said in prepared remarks, and after analyzing the development proposal from Trammell Crow, the seller decided to rezone the land for mixed-use, allowing for multifamily development. According to Rubin, they were approached by the seller and managed to secure a price that was $2 million higher than the appraisal value.

Located at 3100 SW 145th Ave., the property is just east of Interstate 75. Several restaurants and shopping centers can be found within a 1-mile radius, including a Walgreens, a Cuban restaurant and a Japanese restaurant. Memorial Hospital Miramar is some 3 miles northwest, while Hard Rock Stadium is some 8 miles southeast.