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:
• 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, , 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.