In a bustling week for Florida’s commercial real estate market, transactions valued at over $1 million were spotlighted across multiple counties, with a standout deal in Lee County grabbing significant attention.
The real estate scene in Florida witnessed some hefty transactions recently, with deals cutting across Charlotte, Collier, Hillsborough, Lee, Manatee, Pasco, Pinellas, Polk, and Sarasota counties. These transactions, marking their entries for the week of July 21, 2024, and Polk the previous week, underscore the vibrant nature of Florida’s property market.
In Charlotte, a vacant commercial land parcel in Rotonda West sold for $1,150,000 to Strategic TC Holdings II LLC, coming from JSN of NY LLC. Meanwhile, in Collier, Mattamy Tampa/Sarasota LLC made a significant purchase, grabbing a piece of vacant land for a whopping $10,150,000 from Carleton MHC LLC. Another seller, RCDG Partners LLC, parted ways with vacant commercial land on Immokalee Road in Naples for $2,198,000 to New Melle 55 LLC.
Hillsborough also saw substantial figures. ICC Riverview Fuel III LLC acquired a commercial building at 10320 S. 301 Highway, Riverview, for $11,280,000—a property that saw a steep increase from its previous price of $2,000,000 back in May 2022. Another intriguing deal saw Wrights Holdings LLC buying a restaurant property on S. Dale Mabry Highway, Tampa, for $7,461,600.
The largest splash came from Lee County, where GCTC Property LP snagged vacant land in Fort Myers for $128,000,000—a deal that certainly set the pace in Lee. Additionally, a multi-family unit property on Brantley Road traded hands for $57,000,000, a marked increase from its earlier price of $27,200,000 in January 2015.
Manatee County transactions include Cadet 23 LLC’s purchase of a warehouse in Palmetto for $5,434,000. In Pasco, Knight Cap Ventures LLC made headlines with a vacant commercial land acquisition on State Road 54 in Odessa for $5,925,000, compared to a past value of $2,550,000.
Pinellas County witnessed a strip center in Clearwater selling for $3,100,000 to Alarose LLC. This was a significant rise from the $1,500,000 marked in July 2021. Over in Polk County, a shopping center on Highway 559 in Auburndale commanded $18,423,000—a noteworthy jump from its $1,600,000 price tag in October 2020. Lastly, Sarasota saw an automobile dealership on Cattlemen Road change ownership for $2,700,000—a step up from its last sale at $1,675,000, just a year prior.
These transactions highlight the dynamic and ever-evolving nature of Florida’s commercial real estate market, with Lee County’s recent activity exemplifying the kind of investment and growth happening across the state.
Source: Businessobserverfl
