A development site located on Micco Road in Palm Bay has been sold. The asset spans 1,134 acres and has been acquired for a total of $74 million. This sale is part of a larger development initiative that is anticipated to significantly contribute to the local market.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $74,000,000
• Address: Micco Road
• Market: Palm Bay
• Acres: 1,134
• Buyer: James Dicks - Dix Developments
• Seller: Logan & Lee Family
• Broker: Dusty Calderon - Saunders Real Estate

James Dicks, representing Dix Developments, facilitated the acquisition of the property from the Logan & Lee Family. The deal is part of the Ashton Park mixed-use project, which covers a total of 1,568 acres and is projected to be valued at $2.5 billion. The project includes the development of 3,815 single-family lots, 1,037 apartments, and 1 million square feet of commercial space, with the final land purchase set to close on April 15.