Douglas previously awarded the architectural-design contract to North Miami, FL-based Cohen Freeman Encinosa.

Including architectural-engineering fees, the project is expected to cost about $20.5 million, Doug Hoeksema, Trammell Crow Residential group managing partner, says in a prepared statement.

Ground-breaking is expected before year end with completion in October 2002 on the 321,000-sf building and an adjoining parking garage.

County property records show Douglas acquired seven vacant lots, totaling about 62,757 sf, at the development site in November last year for $3.6 million, or $2.5 million per acre ($57.36 per sf).

The company acquired most of the properties from Chateau Mirage Ltd., whose primary director is Miami attorney Harold Chopp.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.