Commercial Partners Realty is pleased to announce the sale of 41 acres of residential land in the second phase of a mixed-use development on the State Road 54 corridor in Pasco County. CPR Team member Jim Engelmann represented the sellers, Smith HV & Smith MV Co-Trustees & Dolcimascolo MM et al, in the $7,468,000 transaction.
According to Engelmann, “This property is one of the last large development sites along the State Road 54 corridor. In 2020 we were able to complete the sale of the Phase I, commercial portion of the property, with the Ferber company. They have already locked in tenants and buyers for most of the site and began their development the day after closing.”
The Ferber Company, is a privately held real estate development and investment company that is involved in a broad array of commercial real estate projects. Their clients range from local businesses to large national brand retailers. The company purchased the entire site, and as the Master Developer, secured Lennar Home Builders to procure and develop the single family and townhome neighborhoods.
Ryan Plate, Vice President of the Ferber Company, praised the CPR Team for their efforts in getting the deal done – “It is great to complete the phase II closing of this project with the Seller’s for the single family and townhome portions of the project. Significant efforts went into getting this transaction completed and The Ferber Company is grateful for Jim Engelmann and the role he played to shepherd this deal to its final stages.”
Commercial Partners Realty is a full service Commercial Real Estate brokerage specializing in Office, Industrial, Retail, Land and Investment sales and leasing. Representing landlords, tenants, buyers and sellers of commercial real estate in Tampa Bay, Pasco County and West Central Florida, they have negotiated hundreds of millions of dollars in transactions in the region.
Commercial Partners Realty is a proud member of the George F. Young corporate family. Our parent company is a full-service professional consulting firm offering engineering, planning, landscape architecture, environmental, and surveying services throughout Florida. Established in 1919, George F. Young, Inc. has been serving the Tampa Bay area and beyond for over 100 years.