MIAMI—Homebuilders are scrambling to meet the rising demand even as land becomes more difficult to find in South Florida. It's against that backdrop that Lennar Homes snagged a 7.32-acre site in Tamarac, FL.

Continental Real Estate Companies (CREC) represented Lennar and the seller, Perry Ventures, on the sale of the unimproved site for 68 townhomes. The site is located at 5931 West Commercial Boulevard and sits just west of the Florida Turnpike.

“Homebuilder lot inventory in the Broward County market has evaporated as demand for new homes far exceeds deliveries,” says Peter Mekras, senior vice president of CREC. “Large tracts of land that can be entitled for the homes that the masses can afford no longer exist in South Florida. A national homebuilder buying a site for only 68 homes is indicative of that trend.”