Avra Jains planning an office building in the Opportunity Zone!
225 NE 34th st , Edgewater, Miami
It is unclear if the Covid19 had changed this plans, but we will definitely see this year if the development takes off!
Jain is planning to build a 15-story office building at 225 Northeast 34th Street with $33 million in Opportunity Zone money. Jain’s company, Vagabond Group Consulting LLC, partnered with Los Gatos, California-based Bauen Capital to create an Opportunity Zone Fund. The office building will be built on top of an eight-story parking deck and will have a large green space. It will be combined with an existing 47,000-square-foot building that includes Anatomy Gym.
In 2017, Jain, Joe Del Vecchio and partners paid $13 million for the property at 3415 Northeast Second Avenue in Miami. It included the three-story, 52,500-square-foot building with the parking garage. Altogether the land totals 35,320 square foot, according to property records.
Plans are for Class A office building for entrepreneurial and tech tenants looking to build their businesses in an Opportunity Zone.
Construction of the new addition is expected to begin in six to 12 months .
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