The complex will comprise 230,000 sf of office and 18,000 sf of ground-floor retail. A 6,500-sf outparcel is slated for a drive-in banking facility. On-site parking will be provided in a 1,000-space garage.

The developers are Gilbert Benhamou and Xavier Hawley in partnership with Louis Boulanger of LBI and attorney Mark Russo. Arquitectonica is the architect. The site is at 18851 NE 29th Ave. in this relatively small commercial submarket.

The addition of this one new building will increase the current Aventura office inventory of 888,901 sf by more than 25%, based on data compiled by the Codina Group. Office rents for all classes of local space average $23.40 per sf, full-service.

Aventura's office vacancy rate was recently reported by Colliers International to be 4%, making it the second strongest office submarket in Miami-Dade County. Only the Kendall/South Miami office sector, with a 2.3% vacancy rate, is any healthier.

Trammell Crow Co., as leasing agent, will be marketing the project as a smart building with such state-of-the art, tech-friendly features as high-speed Internet access, fiber optics, T-5 cable and three independent emergency power generators. Advanced security systems will also be provided.

Aventura lies between two major South Florida airports. Harbour Centre will be about a 10-minute drive to Fort Lauderdale/Hollywood International and 35 minutes to Miami International. There will also be immediate access to all the major interstates and Florida's Turnpike.

All of Northeast Miami-Dade remains a niche office submarket with just 1.75 million sf of total inventory.

Instant Insights /

New $47-Mil Aventura Office Project Designed to Survive Hurricanes

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