West Palm Beach real estate inventory and sales expected to increase

Residential projects, convention center plans and All Aboard Florida are contributing factors

Dec.December 24, 2014 03:00 PM

With residential projects in the works, plans for a convention center progressing along, and the All Aboard Florida West Palm Station’s design unveiled, residential and commercial real estate is expected to rise in 2015.

Brad Capas, founder of CapasGroup Realty Advisors, said in a news release that after years of limited product availability, the volume of new Class A apartments and sales should increase steadily throughout 2015 as projects are completed.  

He added that most of the communities are being developed by builders who traditionally sell soon after completion and lease-up, adding to increased demand on the part of institutional investors for new South Florida apartments.

In 2014, CapasGroup represented the sales of  Aqua Vista, a 5.63-acre waterfront site in West Palm Beach, which sold for $7.7 million, and Prism and Poinsetta, properties totaling 4.57 acres in West Palm Beach, which sold for $5.5 million. — Kristina Puga

Related Articles

Howard Lorber and Barry Zubrow with unit 1601 at The Bristol (Credit: Getty Images)

Howard Lorber flips condo at the Bristol to investment banker Barry Zubrow

From left: 3716 Embassy Drive in West Palm Beach and 80 Nottingham Place in Boynton Beach

South Florida properties involved in $85M debt relief scheme head to auction

603 Village Boulevard (Credit: Google Maps)

AmTrust Bank building in West Palm sells for $8M

Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

One West Palm rendering and Jeff Greene

Construction worker injured at Jeff Greene’s project in West Palm

Al Adelson and the Bristol

High on his own supply: The Bristol developer buys a unit at his condo tower

Jason Hochman, Greg Miller, Scott O'Donnell, Michael Ciadella and 901 Northpoint Parkway 

West Palm office parks sells for $12M in tight market

Roger Hertog and The Bristol in West Palm Beach (Credit: Getty Images)

Investment honcho pays $14M for condo at The Bristol