Mastroianni Sells Harbourside Place Assets for $57.6M as Voloridge Plans New Development in Jupiter

Key Points:

• $57.6 million sale of four Harbourside Place properties in Jupiter
• Voloridge is planning a new building and 100 to 200 new tech jobs
• Waterfront mixed-use site includes a future marina opportunity

A Mixed Use Campus with Expansion Runway

The portfolio includes 110 Front Street with 51,600 square feet of office, retail, restaurant, and structured parking, along with 115 Front Street offering 42,300 square feet of office and retail space. The sale also includes two waterfront parcels at 100 and 102 North Coastal Way, totaling 1.2 acres. Those land parcels are the key development lever. Voloridge announced plans to construct a new building on part of the acquired land, with expectations to add 100 to 200 tech and related jobs. For Jupiter, this represents continued evolution from lifestyle waterfront destination to serious corporate node. Importantly, the buyer also secured a right of first offer on a potential marina planned at the Coastal Way parcels. That creates long term optionality to further activate the waterfront and increase asset value. For developers, this is textbook vertical integration. Control stabilized product, acquire expansion land, and lock in future waterfront components.

Waterfront Office Remains a Draw

Harbourside Place, completed in 2014, sits along the Intracoastal Waterway and blends office, retail, restaurants, and hospitality. Lifestyle-driven mixed-use continues to outperform in affluent coastal submarkets where corporate users want walkability and water views. While much of the recent development narrative in Palm Beach County has centered on West Palm Beach, Jupiter is quietly strengthening its corporate profile. Voloridge’s decision to expand locally instead of relocating underscores confidence in the submarket. For landlords, organic tenant expansion inside a mixed-use campus is often more valuable than chasing new leases.

Capital Structure Complexity Clears

Part of Harbourside Place was originally financed with approximately $99.5 million from 199 EB-5 investors. The project previously faced litigation tied to construction loan allegations, which were later settled. This $57.6 million sale represents partial monetization of a layered capital stack. For Mastroianni, who also leads U.S. Immigration Fund, the transaction simplifies exposure while retaining broader influence in the waterfront corridor. From a development standpoint, recycled capital often funds the next wave of projects.

Broader Palm Beach Development Momentum

Palm Beach County continues to attract investment managers, financial services firms, and tech operators. High-income migration and corporate relocations have reshaped demand across the county’s office and mixed-use landscape. Jupiter’s waterfront assets offer something distinct from urban high-rise product. Lower-density, lifestyle-oriented environments remain attractive to firms prioritizing talent recruitment and retention. With new construction planned and potential marina activation in play, Harbourside Place is shifting from a stabilized asset story to an expansion phase narrative.

Bottom Line

This is more than a $57.6 million asset trade. It is a development repositioning. Voloridge is leveraging waterfront land to expand its footprint, add high-paying jobs, and potentially activate marina components. Mastroianni monetized stabilized pieces while preserving momentum in one of Palm Beach County’s most desirable coastal corridors. For developers and landlords, Jupiter’s mixed-use waterfront remains a growth platform, not just a hold strategy.