Daily Business Review

Aventura Evolving Into Medical, Financial Office Mecca

The city best known for its expanding high-end shopping mall is poised to build its own medical district.

A rendering of the Optima office complex that spans Aventura in North Miami-Dade County and Hallandale Beach in South Broward County.
When Mexico City-based real estate developer Inmobiliaria Brom set out to build its first U.S. project, it looked for a central location with available land and little office space.
It settled on Aventura, and it’s not the only one. There is 436,514 square feet under construction in the city with internationally known Aventura Mall and high-end condominium towers. All will be Class A offices in a city where most of the existing inventory, nearly 799,000 square feet of a total of 1.13 million square feet, already is Class A, according to JLL data.

“Everything attracts me about the city,” said Inmobiliaria Brom partner Ariel Bromberg. ”We are at the border of two counties. We are close to Fort Lauderdale airport. The city is really booming. It’s very international. I don’t see anything that is not attracting us.”

Aventura’s office market is focusing on high-end corporate towers like Inmobiliaria’s Optima complex and a medical district with offices for physicians and other health care and wellness providers.

Forum Aventura tower.

Construction of the 12-story, 96,000-square-foot Forum Aventura at 19790 W. Dixie Highway just outside city limits wrapped up last year. The Optima complex at 21500 Biscayne Blvd. is to get its biggest building later this year when the 28-story, 300,000- square-foot Optima Onyx opens in Hallandale Beach, Broward County’s southernmost city bordering Aventura. On the Aventura side, the nine-story, 84,401-square-foot Optima White and four-story, 29,621-square-foot Optima Red were completed in 2013.

The budding medical district is growing following expansion of Aventura Hospital and Medical Center, which upgraded and added 22 rooms in a $75.6 million emergency room buildout. It then embarked on a 513-space garage and a three-story, 60-bed patient tower bringing the total number of hospital beds to nearly 500. The hospital owned by publicly traded HCA Healthcare Inc. three years ago obtained a Level Two trauma designation, one of two in Miami-Dade County.

North of the hospital, the 12-story Aventura Medical Tower was completed last year, bringing 105,000 square feet of medical office condos. The tower at 2801 NE 213th St. is comprised of a seven-story, 472-space garage under five stories of offices.

On its heels to the east will be the medical office project Ivory 214 and 12 I 12 Aventura, 10-story buildings to be connected by a pedestrian bridge over 28th Court west of Biscayne Boulevard.

Ivory will have 40,000 square feet of office condos in over 30 suites, with all but two left for sale. About 12,000 square feet of coworking space also is intended for health care
providers. A 100-key Tapestry Collection by Hilton hotel will accommodate extended stays for patients and their families. Ivory is set for occupancy in the second quarter.

Next door, the L-shaped 12 I 12 Aventura will have 25,000 square feet of office condos, and at least half have been sold to law, accounting and financial services firms. The project also will have 104 senior independent living units and 56 assisted living units. Construction is to start this month and be completed in 2021.

Both buildings will have parking and some retail with a Chelsea Market-style food hall at 12 I 12.

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