Centtral Aventura Breaks Ground On Mixed-Use Development Along Biscayne Boulevard

Construction is officially underway on Centtral Aventura, a high-end mixed-use development located at 20955 Biscayne Blvd.

The project, which spans 145,000 square feet, is being developed by Centtral Aventura LLC and is scheduled for delivery in Q4 2027. The groundbreaking follows the closing of a $70 million construction loan from Ocean Bank, marking a key milestone in the project’s execution and underscoring lender confidence in the development and the Aventura market.

The nine-story building will offer approximately 145,000 square feet of commercial space;
75,000 square feet dedicated to retail and restaurants on the first three floors, 70,000 square feet of modern office space on the upper levels, and a 423-space parking garage. Foundation work is in progress on the site, signaling the start of vertical development for what is expected to become a new commercial destination serving Aventura’s growing residential and business communities. Colliers’ Executive Vice Presidents Jonathan Carter and Dave Preston are leading retail and restaurant leasing on behalf of Centtral Aventura LLC.

“Centtral Aventura’s location along Biscayne Boulevard positions the project at the center of one of South Florida’s most active and affluent commercial corridors,” said Carter. “Situated just one mile north of Aventura Mall, which attracts more than 28 million visitors annually, the development offers exceptional visibility, accessibility and connectivity within a market defined by luxury retail, fine dining and high-end residential demand.”

 

“Centtral Aventura is a true luxury mixed-use project designed to elevate the way people live, work, and connect,” said Jacobo Cababie Dichi, principal of Centtral Aventura LLC. “We are creating a destination centered around high-quality food and beverage experiences, wellness and fitness concepts, cafés, and everyday conveniences, along with luxury and medical office spaces, all within a thoughtfully designed environment that prioritizes accessibility and experience. Our goal is to bring a unique tenant mix and exceptional national brands that will serve and enhance this community.”

Aventura’s retail market continues to demonstrate exceptional resilience and demand fundamentals. Over the past five years, vacancy has averaged just 2.5%, and currently sits at an ultra‑tight 1.6%. This sustained constraint on supply paired with more than 200,000 square feet of net absorption in 2025 alone has supported steady rent growth, with direct NNN rates rising more than 40% over the past five years to reach $58.91 per square foot. Leasing activity remains robust, with more than 125,000 square feet leased in 2025 and 26,000 square feet already transacted in 2026 despite limited available inventory. With no new large‑format retail deliveries underway and regional demand driven by one of South Florida’s most affluent resident and visitor bases, Centtral Aventura is entering the market at a moment defined by low vacancy, strong tenant expansion, and upward rent pressure positioning the project to meet an unmet need for modern retail, dining, and Class A office space along Biscayne Boulevard.