Flightway Twenty Acquires Development Site From Vasquez Family And Nicholas Falcone For $8.06M

The transaction involved a development site located at Folios: 10-7921-001-0030 & 10-7921-001-0040 in Homestead, FL. The sale was completed on January 17, 2025, with a total price of $8,058,600. The property encompasses approximately 435,600 square feet, resulting in a price per square foot of $18.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $8,058,600
• Buyer: Flightway Twenty
• Seller: Vasquez Family, Nicholas Falcone
• Brokers: Miguelangel Salazar-Pesce & Azael Reyes - East Coast Properties & Commercial Real Estate
• Square Footage: 435,600
• Price Per Square Foot: $18
• Market: Homestead, FL

East Coast Properties & Commercial Real Estate, PLLC represented the buyer, Flightway Twenty, in the acquisition of these two parcels under separate ownership. The buyer intends to rezone the properties for an industrial zoning designation to develop a Class A dock-height warehouse, which will cater to the needs of Homestead's growing industrial commerce market.