Coral Gables-based Luxcom has picked up a 13 acre residential development site in Palm Beach County for $4.65 million. Located at 9919 Pioneer Road, Pioneer Estates is zoned for a residential development entitled for the construction of up to 93 town homes. The land is located near the Florida Turnpike and other planned commercial developments. Peter Mekras, Senior Vice President at CREC, represented the seller, a private land owner with a long-held interest in the property.
“As we began marketing the residentially-zoned land for sale, we generated multiple offers from local, regional and national land builders interested in the long-term investment opportunity this site offers,” said Peter Mekras, CREC. “The Palm Beach market is experiencing strong demand for residential development with plans underway for large-scale, master-planned communities.”
