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Developer Obtains $16 Million to Build Mixed-Use Project in Broward, FL

Posted: 11/16/2017 Link: BizJournals.com
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Firstbank Florida provided a $15.75 million construction loan for the Megacenter mixed-use industrial, self storage and office project.

The bank, a division of Firstbank Puerto Rico (NYSE: FBP), awarded the mortgage to Megacenter Miramar LLC, a Medley-based company managed by Patricio Ureta and Pablo Wichmann. The company already has three locations in Miami-Dade and Broward counties that offer office and self storage space with flexible rental terms.

Its latest location would be on the 14.7-acre site at 7451 Riviera Blvd., which is near Florida’s Turnpike. Megacenter Miramar acquired the property from Broward College for $10 million in 2016.

Megacenter Miramar will total 267,325 square feet, with 182,357 square feet of that new construction and the rest renovations to an existing building that was formerly used by the college. The usage would break down to 169,427 square feet of warehouse, 59,364 square feet of self storage and 38,534 square feet of office. It would have 285 parking spaces.

The project was designed by Cartaya & Associates Architects.

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