Marcus & Millichap is proud to present for sale 5.5 acres of land of the Metropica project. Metropica is a 50 acre planned development located adjacent to the largest outlet and value retail shopping destination in the United States, the 2,200,000 square foot Sawgrass Mills Mall located in Sunrise, Florida, which boasts approximately 26 million visitors annually. The Metropica project is planned to have over 2,200 residential units, 800,000 square feet of office, 200,000 square feet of retail, and 240 hotel rooms. The project is comprised of three distinct parcels of land, including the northern 10 acres, which includes a 5.5-acre parcel (the Subject Property) and an adjacent 4.5-acre parcel, the middle 20 acres, and the southern 20 acres. The Subject Property is being sold with approved rights to build 300,000 square feet of office and 50,000 square feet of retail space, which are part of the Master Plan Approvals issued by the City of Sunrise in August 2019. The middle 20 acres are planned to be developed with 1,400 to 1,600 residential units in multiple towers, including the first luxury condominium tower with 263 units and 28 stories which completed at the end of 2020 and is mostly sold with average prices which range from the mid $400,000 to mid $600,000 and penthouses up to $1,800,000. In addition, Metropica will be developing a mixed-use project on its southern 20 acres with up to 515,000 square feet of office, 600 residential units, 150,000 square feet of retail, and 240 hotel rooms. The overall design of the Metropica project is consistent with other Master Planned Projects in South Florida, including Mizner Park in Boca Raton, Shoppes at Pembroke Gardens in Pembroke Pines, and SoLeMia in North Miami.
