Procacci Sells Development Site Near Dolphin Mall for $38M

Avison Young’s Florida Capital Markets Group completed the sale of Dolphin Square, a trophy multifamily development site spanning ±7.89-acres at 1556 NW 110th Ave. near Dolphin Mall in the Miami Springs/Doral submarket of Miami-Dade County.

The site, which spans eight acres, is located at 1556 NW 110th Avenue, across the street from the outlet mall in Sweetwater. Pinecrest-based Coastland Residential purchased the parcel  for $38 million and plans to build a mid-rise, 10-story multifamily property with 690 units, which the site is already approved for.

The seller, Procacci Development Corporation, has owned the land since at least 2013, when it demolished the existing structures on the site. The site has remained vacant since.

Avison Young’s David Duckworth, Michael Fay, John Crotty, Brian de la Fé and Wayne Schuchts represented Procacci in the transaction.