Small Land Sales Market Heating Up

ORLANDO-Small developable tracts in Central Florida are selling briskly as buyers anticipate prices will continue to escalate in the near future, area industrial brokers participating in some of the recent deals tell GlobeSt.com.

For example, locally based Blue Seas Associates paid Marbella LLC an estimated $11 million, or $407,487 per acre ($9.35 per sf), for a prime 27-acre parcel in the Marbella development on the west side of Interstate 4 in south Orange County. Blue Seas plans to develop a 334,000-sf shopping center on the site.

The property abuts both sides of the planned overpass that will connect Palm Parkway and International Drive, according to Colliers Arnold brokers Susan Morris, Kane Morris-Webster and Jill Rose who negotiated for the seller.