Centerline snags 90-acre dev site in south Miami-Dade

The Sunrise-based real estate firm bought the property for $75K per acre

Miami /
Jan.January 06, 2020 01:30 PM
Centerline Capital Advisors President Craig Perry and 17101 Southwest 200th Street (Credit: Google Maps)

Centerline Capital Advisors President Craig Perry and 17101 Southwest 200th Street (Credit: Google Maps)

Centerline Capital Advisors paid $6.75 million for 90 acres in south Miami-Dade County that could be redeveloped into a home community.

Sunrise, Florida-based Centerline bought the property at 17101 Southwest 200th Street for $75,000 per acre, records show. Francis Dirico of Key Largo sold the property.

The property is close to the Redlands and south of the Zoo Miami. It was previously home to a large mobile home park and is permitted for 349 mobile home units, according to a listing on LoopNet. It is currently zoned for one home per five acres.

The site last sold for $1.85 million in 1999, records show.

Centerline Capital Advisors, formed in 2014, focuses on land acquisition, development, construction, property management and financing. The company is led by President Craig Perry. In August 2018, Centerline Capital Advisors bought a development site in Parkland for $50.5 million.

Homebuilders are increasingly buying land in south Miami-Dade, as land becomes more scarce closer to the urban core. One of the country’s largest homebuilders, Miami-based Lennar, is one of the most active land acquirers in the area.

In August, the company paid $22.1 million for roughly 85 acres in Homestead, west of Southwest 152nd Avenue. The company also spent $4.5 million for 32.7 acres of farmland near Zoo Miami.


Related Articles

arrow_forward_ios
Lennar's Stuart Miller and 28600 Southwest 132nd Avenue (Google Maps)

Lennar spends $29M on Homestead mobile home park, plans new community

Lennar spends $29M on Homestead mobile home park, plans new community
Boca Raton Municipal Golf Course with GL Homes' Misha Ezratti, head of GL Homes and Boca Raton Mayor Scott Singer (Google Maps, Lila Photo via GL Homes, Twitter)

Slow play: GL Homes’ purchase of Boca Raton golf course pushed to 2021

Slow play: GL Homes’ purchase of Boca Raton golf course pushed to 2021
Brent Baker and a  rendering of 5024 South State Road 7 (DiVosta, iStock)

Pulte buys 31 acres in Lake Worth, plans housing community

Pulte buys 31 acres in Lake Worth, plans housing community
Stuart Miller of Lennar & a map of Arden community

Lennar pays $14M for land at Arden

Lennar pays $14M for land at Arden
Mark Pulte & 701 South Ocean Boulevard, Delray Beach (Credit: Google Maps)

Mark Pulte’s homebuilding firm buys Delray Beach oceanfront lot for $11M

Mark Pulte’s homebuilding firm buys Delray Beach oceanfront lot for $11M
Dr. Walter Okoroanyanwu, Angelo Bianco and Jim Carr 

Doctor’s orders: developers increasingly tap medical experts, amenities

Doctor’s orders: developers increasingly tap medical experts, amenities
GL Homes President Misha Ezratti (Credit: LILA PHOTO via GL Homes)

GL Homes offers $22M for development rights in Agricultural Reserve

GL Homes offers $22M for development rights in Agricultural Reserve
Rendering of Belmont Village Coral Gables and Baptist Health South Florida CEO Brian L. Keeley

Baptist, Belmont gain approval for luxury senior living in Coral Gables

Baptist, Belmont gain approval for luxury senior living in Coral Gables
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...