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.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.