Broward County is experiencing a significant boom in commercial and mixed-use development, highlighted by the commencement of a massive $1 billion waterfront project and a substantial retail acquisition. These initiatives signal strong investor confidence and are poised to reshape the region’s landscape.
Key Takeaways
- Sunbeam and Stiles have broken ground on Miramar Cove, a $1 billion mixed-use development in Miramar.
- The project will feature nearly 3,000 residential units, extensive retail and office space, and a hotel.
- Nuveen has acquired a Broward County retail center for $46 million, indicating a focus on the retail sector.
Miramar Cove: A Transformative Waterfront Development
Sunbeam and Stiles have officially begun construction on Miramar Cove, an ambitious $1 billion, waterfront mixed-use development located in Miramar, Florida. This sprawling project is set to become a major destination upon its projected opening in the fourth quarter of 2028.
At its full build-out, Miramar Cove will offer a comprehensive living and commercial experience. The development is planned to include:
- 2,874 contemporary-style homes
- 400,000 square feet of retail space, including a 35,000-square-foot grocery store
- 125,000 square feet of office space
- A 185-room hotel
The centerpiece of Miramar Cove will be a 5.5-acre water basin, surrounded by dining, entertainment, and gathering spaces designed for continuous activation. The development will also feature a public entertainment district and a private beach club for residents. Connectivity is emphasized with five miles of walking paths linking the entire site, complemented by Founders Park’s 10-acre green space and The Estuary’s 25 acres of natural trails. The 125-acre property is strategically situated next to Sunbeam’s existing Miramar Park of Commerce, a 5 million-square-foot corporate campus.
Nuveen’s Strategic Retail Investment
In a separate but significant move for the region’s commercial real estate, Nuveen has acquired a retail center in Broward County for $46 million. This acquisition underscores the continued interest in and potential seen within the local retail market, suggesting a positive outlook for retail properties in the area.
Sources
- Sunbeam, Stiles Begin Construction on $1B Waterfront Mixed-Use Development in Broward County –
REBusinessOnline, REBusinessOnline.