The Real Deal Miami

Billionaire sells West Palm industrial land for $10.8M

Jeff Greene has invested $250M since late 2009

January 02, 2015 09:45AM

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Billionaire Jeff Greene, who has spent about $250 million on Palm Beach County real estate, recently sold 26 acres of industrial land along the Florida Turnpike.

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Jeff Greene

Greene bought the land on Pike Road west in West Palm Beach for $5.35 million in March 2013 and reportedly sold it for $10.75 million to SunCap Property Group. The North Carolina company plans to develop the property into a FedEx distribution center, according to a published report.

Most of Greene’s properties consist of condos and office space, the Palm Beach Post reported. Greene told the Post the sale of the vacant land doesn’t reflect a change of plans for the rest of his properties in Palm Beach.

“Truthfully, it’s not in the core of what I’m doing,” he said. [Palm Beach Post]Katherine Kallergis

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