Aventura’s busy Biscayne Boulevard corridor is getting another mixed-use neighbor, as a local developer pushes ahead with a nine-story project on a 1.55-acre site between Aventura Mall and the Village at Gulfstream Park. The building is set to deliver roughly 142,000 square feet of space, with about 63,400 square feet dedicated to offices and the rest reserved for ground-floor retail, restaurants and a fitness center. Construction is already underway at the property.
Miami-based Ocean Bank is backing the development with a $70 million construction loan to Centtral Aventura LLC, the borrowing entity managed by Jacobo Cababie Dichi, according to Traded. Public records and prior coverage indicate the financing is tied to 20955 Biscayne Boulevard, where the developer first submitted plans in 2021 before later revising them, as reported by The Real Deal.
Project details
Plans call for a nine-story tower totaling about 142,153 square feet, with approximately 63,400 square feet slated for office space and the remainder earmarked for storefronts, restaurant use and a gym, per Traded. JAXI Builders is listed as the general contractor, and the financing is structured as a construction loan to carry the project through delivery, according to the same trade coverage.
Market context
Developers and lenders are chasing infill opportunities as retail vacancy tightens across Miami-Dade, helping underwrite new storefronts and smaller-scale office projects in prime corridors. The Real Deal reported that Colliers data showed countywide retail vacancy dipping to 2.9 percent in the fourth quarter, and a relatively shallow development pipeline has pushed leasing momentum toward both existing and newly delivered prime space. Nearby investment, including the $131 million purchase of the former Esplanade at Aventura, has reinforced demand along this stretch of Biscayne Boulevard, according to that coverage.
Who’s behind the deal
Centtral Aventura is an affiliate managed by Jacobo Cababie Dichi, with corporate listings tying him to multiple Centtral-linked entities registered in Aventura, per BizProfile. Ocean Bank, a Miami-based lender, has been active in South Florida construction financing, and the developer acquired the Biscayne Boulevard parcel in 2020 before moving ahead with the project once the construction loan was in place.
With retail fundamentals tight and the building wedged between two regional shopping powerhouses, the project’s ground-floor space will be worth watching as leasing gets underway. Expect the developer and lender to spotlight preleasing and construction milestones as the nine-story tower advances toward delivery.
