This week, Florida’s real estate market has been buzzing with significant transactions, particularly two warehouse deals in Polk County totaling an impressive $100 million.
In Charlotte County, a transaction worth noting is Lennar Homes LLC’s acquisition of vacant land in Punta Gorda, priced at $2,969,700. Meanwhile, GTSJ Enterprises LLC took over a professional services building at 25560 Technology Blvd., Punta Gorda, for $1,175,000, a steady increase from its previous sale in January 2002 for $55,000.
Collier County also witnessed notable activity with Dallas Naples LLC purchasing a retail store on Davis Blvd., Naples, for $7,500,000, nearly tripling its value since December 2016. Another interesting sale was the office building at 990 1st Ave. S., acquired by 990 Partners LLC for $6,200,000, a significant rise from its August 2014 price of $1,900,000.
Over in Hillsborough, the real estate scene heated up with NP Tampa PropCo LLC’s purchase of an office building on E. Hillsborough Ave. in Tampa for $45,000,000. ACF Properties LLC also secured a shopping center on Highwoods Preserve Parkway at $31,125,000, reflecting the county’s dynamic market.
Lee County saw Amavida Property LLC buying multifamily units on Calistoble Loop, Fort Myers, for a whopping $107,000,000, underscoring the area’s appeal to investors. Another notable transaction was Ft. Myers Property Owner LLC’s acquisition of vacant commercial land for $10,500,000.
In Manatee County, D.R. Horton Inc. purchased vacant land in Bradenton for $5,559,700, while the local government picked up an office building for $4,400,000. GH&G SR 70 LLC’s acquisition of vacant commercial land for $1,100,000 rounds off the week’s transactions.
Pasco County’s market remained vibrant with TPG AG EHC III (LEN) Multi State 2 LLC purchasing vacant land for $7,924,000. Family Owned Service Company Inc. took ownership of a mortuary on Trouble Creek Road, New Port Richey, for $5,000,000, marking a significant investment.
Pinellas County’s real estate transactions included the purchase of apartment units on 62nd Ave. S., St. Petersburg, by Whitestone CPI Capital AV US LP for $12,340,000, a rise from the 2016 price of $7,750,000. The purchase of vacant commercial land in Tarpon Springs by Knight Cap Ventures LLC for $5,925,000 was also significant.
Polk County was a hotspot this week with LBA NCC Company acquiring two warehouses on Home Run Blvd., Davenport, for a combined amount exceeding $104 million, purchased from MDH Orlando Four Corners LLC. Each warehouse had a previous price of $7,873,500 back in September 2015, showcasing a remarkable appreciation in value.
In Sarasota, Pulte Home Company LLC added to its portfolio by purchasing vacant land in Englewood for $12,360,150. Meanwhile, office condominium units on S. Pineapple Ave. changed hands for $11,000,000, reflecting ongoing interest in the area’s commercial real estate.
Florida’s real estate market continues to showcase robust activity across various counties. With substantial investments and significant price increases, the state’s real estate landscape remains dynamic and attractive to investors.
Source: Businessobserverfl
