NAI Miami | Fort Lauderdale successfully closed on a 20.8-acre land parcel sale located at 3000 Campbell Drive in Homestead for $14 million.
Joseph R. Gallaher, Partner, and Jeremy S. Larkin, CEO, both of NAI Miami | Fort Lauderdale, represented the buyer, EIG MG Homestead. Baptist Health South Florida was the seller.
EIG Homestead is a venture between The Estate Companies and Midtown Group. In September 2023, the joint venture was granted approval for Soleste Midtown, a mixed-use community comprising 354 luxury garden-style apartments and approximately 43,000 square feet of commercial space spanning six acres. The Estate Companies will develop and own the apartments and Midtown Group will develop and own the commercial parcels. Construction is expected to begin this Summer.
“With the quantity of residential development taking place in South Miami-Dade, retail has been in ever increasing demand reflected in its nominal vacancy. As stated, Soleste Midtown Homestead will be delivering a relief from this retail shortage with its multiple outparcels while also providing much needed housing units; units delivered with The Estate Company’s benchmark quality.
Working on one of the largest remaining developable land parcels in south Miami-Dade County has been an incredible experience. An experience made better by working with three of South Florida’s premier companies in The Estate Company, Midtown Group and Baptist Health South Florida.” said Gallaher.
May 2024. CRE South Florida Sources.
