Blanca Represents New Related-Shoma Mixed-Use Project in Doral

MIAMI—The Related Group and Shoma Group are tag teaming on a mixed-use project in Doral. Located on a 48-acre site, developers will break ground on Park Square at Doral later this year.

Blanca Commercial Real Estate president and CEO Tere Blanca represented Shoma Group in the transaction. Blanca teamed up with Robert Kaplan and Mark Rutherford of Ackman-Ziff Real Estate Group LLC on the deal.

“Doral’s recent population growth and built-in employee base make it the perfect market for mixed-use development with a multifamily component,” Blanca tells GlobeSt.com. “Doral’s evolution into a fully-populated urban center in west Miami-Dade County will continue to drive activity in the residential and commercial sectors, with additional development on the way.”

Park Square’s first phase will include up to 400 multifamily residential units built on six acres fully-entitled for this use. The multifamily component will offer one-, two-, and three-bedroom units in a six-story building with structured parking. The first phase will also include retail product ranging from upscale dining and entertainment, to local shops and anchor stores.

The mixed-use project will complement the existing One Park Square at Doral building, which is home to 281,000 square feet of class A office space that Blanca also represents. Amadeus North America’s corporate headquarters are in that building, along with Harley-Davidson Motor Company’s Latin America regional sales offices, and tenants like the Latin Recording Academy (“Latin Grammys”).

As far as developable sites go, Blanca says it’s difficult to top this location, surrounded by major corporate headquarters like Carnival, Univision and soon, the Miami Herald. Forbes magazine has ranked Doral as one of the top two places to live in America, CNN Money included the City in a recent listing of the 100 communities with the best mix of business advantages and lifestyle appeal, and U.S. News & World Report ranked it among the top three places to retire in the nation.

“Steady demand for retail and commercial product in Doral is consistent with continued residential development in the region,” Blanca says. “The city’s population grew by a dramatic 125% between 2000 and 2010 and there are indications that this trend will continue as Doral remains an attractive community for young professionals and families seeking new urban lifestyle, strong quality of life amenities, and a healthy business base.”