Florida’s real estate market is buzzing with high-profile property transactions and listings, from multi-million dollar commercial sales to celebrity ranch offerings and significant residential transfers. This activity underscores the state’s dynamic and often luxurious property landscape, attracting diverse investors and homeowners.
Commercial Property Sales
SITE Centers Corp., a Beachwood-based real estate investment trust, recently sold the Winter Garden Village shopping center in Florida for approximately $165 million in cash. This massive retail property, spanning 998,010 square feet, is nearly fully occupied with anchor tenants including Target, Lowe’s, and Best Buy. This sale is part of a larger trend for SITE Centers, which has been divesting out-of-state properties, including two other shopping centers in Missouri and Colorado for over $95 million combined.
Celebrity and Luxury Listings
Former Mets outfielder Yoenis Cespedes has listed his Port St. Lucie ranch for $30 million. The 39-year-old’s property, located near the Mets’ training facility, is a hunting ranch where he sustained a career-ending ankle injury in 2019. If sold at the asking price, it would be one of the most expensive private estates ever in Port St. Lucie.
Residential Market Activity in Ocala/Marion County
Deed transfers in Ocala/Marion County show a wide range of residential sales, with numerous properties changing hands for $80,000 or more. Notable transactions include:
- A property in Aurora Oaks sold for $7,209,000.
- Several homes in Calesa Township ranged from $352,345 to $541,660.
- A residence in Country Club of Ocala fetched $1,095,000.
- Numerous sales in Marion Oaks were recorded, with prices varying from $80,000 to $444,000.
- A significant transfer in Marion County reached $5,207,000.
Rising Property Taxes in Palm Beach
Palm Beach is experiencing a surge in property taxes, fueled by a pandemic-driven wealth boom. Citadel CEO Ken Griffin, for instance, faces a property tax bill exceeding $10 million, marking the largest assessment for a homeowner in the area. This trend highlights the escalating value of luxury real estate in Palm Beach and its impact on local revenue.
Key Takeaways
- Florida’s real estate market continues to attract significant investment, from large commercial deals to high-value residential properties.
- Celebrity-owned estates are entering the market with substantial asking prices.
- Residential sales across various price points are active, particularly in areas like Ocala/Marion County.
- The booming luxury market in regions like Palm Beach is leading to record-high property tax assessments.
Sources
- SITE Centers sells Winter Garden Village in Florida for $165M, Crain’s Cleveland Business.
- How much did that house sell for? Deed transfers in Ocala/Marion County, Ocala StarBanner.
- Exclusive | Former Mets Outfielder Yoenis Cespedes Wants $30 Million for His Florida Ranch, WSJ.
- Palm Beach Real Estate Boom Fuels Rise of Million-Dollar Property Taxes, Bloomberg.