Butters Pays $4.32 per SF for Tamarac Tract

MIAMI-Butters Construction & Development Inc. of Deerfield Beach, FL, has purchased a 23-acre tract in Tamarac, FL from Chicago-based West Point Land Development LLC for $4.33 million or $188,261 per acre ($4.32 per sf). The firm plans to develop the land for commercial use at 5700 Hiatus Road.

The land is Butters Construction & Development’s second major purchase in that area since September. The property is next to a 107,804-sf warehouse/distribution building that privately held Butters and the Siegel and Schmier families jointly bought last month.

The building, West Point Distribution Center I at 5607 Hiatus Road, was purchased from West Point Center Ltd. for $5.6 million or $51.95 per sf.