Warehouse Land Trades For Double The Price In Less Than 2 Years

Last Tuesday, billionaire Jeff Greene sold 26 acres of industrial land along Florida’s Turnpike in Palm Beach County.
It was a small win for Greene, who has made several investments in West Palm Beach and Palm Beach.
Greene paid $5.35 million in March 2013 for the warehouse land, then flipped it less than two years later for $10.75 million, according to the Palm Beach Post.
The buyer was SunCap Property Group out of Charlotte, N.C., which plans to develop a FedEx distribution center on the property on Pike Road west of West Palm Beach.
Greene was hoping to build a warehouse for FedEx on his own, but the package delivery company preferred to work with an experienced industrial developer, the Post reports.
 
Source: SFBJ
 

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