Mixed-Use Project to Replace Yacht Factory and Marina
- Aug 26, 2015
By Balazs Szekely, Associate Editor
A 21-acre site—formerly a yacht manufacturing facility and now home to a 90-slip marina—traded hands recently and the new owner has great plans for its future. Interterra Investments Group purchased Miami International Centre from Alecta Real Estate Investment for $35.5 million. HFF marketed the asset on behalf of Alecta, with a team led by Executive Managing Director Manuel De Zárraga, Associate Director Maurice Habif, Managing Director Jaret Turkell and Director Marty Busekrus.
The property is poised to become a world-class mixed-use development with retail, hotel, residential, office and/or marina uses. The site is located immediately east of the Miami International Airport and directly across from the state’s most important rail transportation hub, the Miami Intermodal Center. The site also has access to Biscayne Bay via its proximity to the Miami River. It is part of the recently created 220-acre Palmer Lake Metropolitan Urban Center zoning district which was established by Miami-Dade County to foster the creation of a modern urban center.
Miami International Centre consists of the Upland Parcel, which houses 360,626 square feet of warehouse space in six buildings, and the 37,982-square-foot Marina Parcel along with 90 covered boat slips.
Photo credit: Miami International Centre