MIAMI—The South Ocean Resort, a 385-acre development site on the southwestern coast of New Providence, The Bahamas, is up for grabs. Generally considered to be the most important remaining tracts of land in the Bahamas, the development of the South Ocean property calls for a $1 billion mixed-use project that will include hotels, a casino, residential enclaves, a marina, and retail components.

CBRE representing the seller. The firm reports it is actively fielding inquiries from hotel, development and investment groups based in the United States, Asia, Europe, the Middle East, and Australia. Famed golfer Greg Norman is the mastermind behind the project.

“As a firm, we take on land sale assignments in the Caribbean selectively, but we jumped at the chance to be involved with the sale of the South Ocean Resort property,” says Paul Weimer, a vice president with CBRE Hotels who is based in Miami and is leading the marketing efforts. “Given the location on New Providence, the airlift, the large-scale development potential, and the plan that Greg Norman's team has put together, South Ocean clearly represents the most significant development opportunity to come to market not only in The Bahamas but also in the greater Caribbean.”