A partnership that includes Red Megacentro, a Chile-based real estate developer and self storage operator, has acquired 14.7 acres in Miramar, Fla., for $10 million. Megacenter Miramar LLC, managed by Patricio Ureta and Pablo Wichmann, acquired the property at 7451 Riviera Blvd. from Broward College. The company intends to build a 267,325-square-foot mixed-use development that would include 59,364 square feet of self storage, according to the source.
The property houses two buildings used by the college for its automotive-technology program and marina center. On July 6, the city commission approved the developer’s site plan to renovate the two structures and build another three buildings. The college plans to relocate the two programs to its South Campus, the source reported.
The mixed-use project would also include 38,534 square feet of office space, 285 parking spaces and a 169,427-square-foot warehouse. In all, 182,357 square feet of the project would be new construction.
Ureta and Wichmann partnered with Red Megacentro in 2012 to adopt the company’s development model in the United States. The partnership has been actively pursuing mixed-use developments in Florida.
Red Megacentro has more than 7.5 million square feet of real estate in operation in Chile, Peru and the United States. It has built 40 self storage facilities between the three countries. The company tends to focus on redevelopment projects rather than new construction.