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Week of July 10, 2003 |
| Hotel planned for Venamerica site near Miami International Airport By Paula DistefanoLeJeune Airport Park Suites Inc. plans to build a hotel on a 4.67-acre site southwest of Miami International Airport known as the Venamerica property. The land, at Northwest 12th Street and Milam Dairy Road, formerly housed Venamerica Machinery Inc. LeJeune paid $4 million for the land. Two other parcels on the Venamerica site were previously sold - for $650,000 to Wendy's Corp., which plans to build a restaurant on its 30,000-square-foot lot, and for $1.3 million to Safeguard Storage, which plans a 90,000-square-foot, three-story building on its 1.4 acres. The empty building on the parcel bought by LeJeune will be demolished this week, said Robert Cambó of Venamerica Florida LLP, which sold the property. Venamerica Florida purchased the entire 6.83-acre site in January 2001 for $4 million. Mr. Cambó said the sale highlights the growing strength of the Airport West area. "Some speculated that we overpaid for this property, but the market has proven that we were on target from the onset," he said. He said his partnership originally planned to develop part of the property but after the terrorist attacks of Sept. 11, 2001, "partners did not want to take a risk, so plans changed." Ernesto Casal of Miami-based Alliance Companies brokered the deal. Alliance recently brokered a sale of the TractoAmerica building at 8130 NW 58th St. to Sorrento Investments Corp. for $90.84 a square foot, a record for Airport West. |
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