Armando Codina, Executive Chairman of Codina Partners, has just listed his Coral Gables estate for more than $45 million as he is preparing to move into the top floor.
The development site spans 4.2 acres.
The decision was largely driven by the demands of Codina Partner’s newest project Regency Parc, an ultra-luxury residential tower in Coral Gables.
UHealth will occupy 11,243 square feet, which will include comprehensive eye care from Bascom Palmer Eye Institute, and physical therapy services, such as hand therapy and pelvic floor rehabilitation.
Codina Partners previously co-owned Tower One with Invesco, while solely owning Tower Two.
The sale price comes to approximately $362 per square foot.
The project will be situated on the 4.2-acre vacant lot at the corner of NW 53rd Street and NW 52nd Terrace.
This new phase will introduce nearly 25,000 square feet of retail offerings along 87th avenue and 929 parking spaces in the garages serving the retail.
Hialeah has seen an industrial boom in recent years with 30 million square feet of warehouses and manufacturing plants boasting a vacancy rate of only 1.7 percent, which ranks the lowest amongst the Miami-area submarkets.
Codina is planning a mixed-use project with a focus on residential, “lifestyle” shops and neighborhood businesses, however he did not yet have a detailed development plan.
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