MIAMI—Over 11 acres of prime waterfront land front Clear Lake in West Palm Beach, FL has traded hands. Mulberry Street Partners and Temple Hill Partners, which includes South Florida billionaire real estate developer Jeff Greene, acquired the land.

Matthew Rotolante, managing director of SVN South, the Miami office of Sperry Van Ness, and senior advisor Mark King, represented the seller, WPB Clearlake SPE. The duo also represented the buyer in the $12.5 million deal.

"As the last site of its kind in the area, it is prime for development," says Rotolante. "The addition of the new Palm Beach Outlet mall, the unique 32-unit-per-acre zoning, and the incredible competition it enjoyed as a result of our marketing program all point to this property bearing fruit for years to come."