NORTH MIAMI BEACH, Fla. (May 12, 2017)–Macken Companies, a fully integrated real estate firm in South Florida, has closed on two more properties adjacent to its headquarters, at 17071 West Dixie Highway, in North Miami Beach. The two lots, at 17035 and 17005 West Dixie Highway, were acquired for $4 million in total, and are part of the overall assemblage for 5 Park, the 445,000 square-foot mixed-use project proposed by Principal Alan S. Macken and his development team.
Rodolfo and Monica Cano sold the first piece, at 17005 West Dixie Highway, to a company controlled by Macken Companies for $1.5 million. Closing took place March 28th. The lot totals 8,106 SF and includes a 3,000 SF retail plaza, located on the southwest corner of the center. This piece represents the southern end of the overall assemblage for 5 Park.
The second piece, at 17035 West Dixie Highway, was sold by 170 West Dixie LLC and Biscayne 4400 Management LLC for $2.5 million to a company controlled by Macken Companies. Closing took place May 8th. The 17,700 SF lot includes a 6,500 SF retail plaza just next door to Macken’s office building.
Monte Greenberg of Macken Realty represented Macken Companies in both transactions.
The proposed 5 Park project includes construction of two new 19-story residential rental buildings comprising 415 units in total and a 71,637 square-foot office complex. In addition, 30,210 square feet of ground retail space is planned at the ground level with a new six-story parking garage and significant walkway improvements.
Located on over three acres, the development will feature a contemporary urban design by Kobi Karp Architecture and create a pedestrian-friendly setting with a choice selection of new retailers that will serve its residents and its surrounding neighborhoods.
The City of North Miami Beach’s Planning & Zoning Board approved plans for 5 Park in February. Macken Companies could go before the City Commission in early May.
For more information, please visit www.mackencompanies.com.
About Macken Companies
Macken Companies is a fully integrated firm with real estate investment, development, construction, financing and brokerage entities. Over the course of nearly 30 years, Macken Companies has been instrumental in the repositioning and revitalization of neighborhoods throughout South Florida. The name Macken has become synonymous with visionary planning and development, superior construction, and record-breaking sales and marketing. As a fully integrated firm, Macken Companies’ affiliate entities—VCM Builders, Macken Realty, SFCS, Owners’ Choice, Bid That Project, Sefran, G&A Strategic and MTV Investments—work in tandem to offer clients complete residential and commercial real estate solutions. Regardless of the size and scope of the endeavor, Macken Companies approaches every opportunity with equal passion, diligence and accountability. As a result, Macken Companies is highly regarded throughout the state for its reputation and integrity. For more information, visit www.mackencompanies.com.