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

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.


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