Virgin Trains buys land for Aventura station

Virgin Trains USA has closed on the purchase of the site of its future Aventura station.

Eliahu Ben-Shmuel and Daniel Mims Ben-Shmuel, as trustees of D.A.N. Trust, sold the vacant site of 3 acres at 19700 W. Dixie Highway and 19825 N.E. 26th Ave. for $18 million to 19700 WDH LLC, an affiliate of Virgin Trains USA. The passenger rail company immediately deeded the property to Miami-Dade County for $10 as part of the deal to develop the station.

In October, the Miami-Dade County Commission approved $76.6 million in funding for the Virgin Trains USA, also known as Brightline, station in Aventura. Construction is expected to start in March and be completed by the end of October. The station will include a 290-space parking garage. There will also be pedestrian bridges over both Biscayne Boulevard and West Dixie Highway.

Virgin Trains carried just over 1 million passenger in 2019, up 75% from the prior year, according to a report to its bondholders. The service currently connects Miami, Fort Lauderdale and West Palm Beach. The passenger rail company said its three new stations in Aventura, Boca Raton and PortMiami would generate over 2 million additional passengers.

A segment to Orlando is currently under construction. Virgin Trains is in negotiations for a stop near Disney.

Parcels with low-rise buildings near Virgin Trains stations are ripe for redevelopment thanks to the premium value placed on office and multifamily properties near mass transit. Companies seeking office space in these cities could benefit from the convenient transportation for their workers, while the stations would provide a steady stream of customers for retail and restaurant tenants.

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