The size and number of $1,000,000 plus nonresidential real estate transactions in Palm Coast and Flagler County signal confidence in future growth.
PALM COAST, FL – August 30, 2017 – 2017 has been a good year so far for nonresidential real estate sales. There have been several transactions of $1,000,000 or more, signaling investor confidence in the area’s future growth.
January 11, 2017, Grand Haven North LLC (a Jim Cullis company) sold four parcels totaling 16.67 acres on the west side of Colbert Lane (650 Colbert Ln) to Tuscan Gardens of Palm Coast LLC, of Orlando, for $3,016,000. Tuscan Gardens has begun construction of two Adult Living Facilities (ALFs) on the site.
- One building is a four-story assisted living facility with a one-story amenity building. The stated construction value is $13,138,000. Impact and associated permitting fees paid totaled $184,517.62.
- The second building is a two-story memory care facility. Its stated construction value is $4,651,662. Impact and permitting fees totaling $72,035.78 were paid.
January 13, 2017, Palm Coast Properties, of Bradenton, sold 1000 Palm Coast Pkwy SW to Parkway Plaza LLC, of Bradenton, for $1,678,000. The two-story commercial building has 19,921 square feet of finished area.
January 19, 2017, Flagler Palms Cemetery LLC, of Delray Beach, sold 511 Old Kings Road S to S.E. Combined Services of Florida LLC for $2,850,000.
May 4, 2017, Palm Coast Waterchase LLC, of West Springfield, Mass., sold lots 1 and 2 of Pine Lakes North Commerce Center (AKA Pine Lake Apartments, 121 Pine Lakes Pkwy N) to Pine Lakes Acquisitions LLC, of Kansas City, for $25,525,100.
PINE LAKE APARTMENTS
May 19, 2017, PV-Palm Coast LLC, of Safety Harbor, sold Lot 4 of Shoppes of Palm Coast (AKA Tractor Supply) to Robson Crossing LLC, of Gainesville, Ga., for $5,000,000.
June 27, 2017, Palm Coast Land LLC, of Duluth, Minn., sold nine parcels of land totaling approximately 700 acres to Optimum Global Properties LLC, of Orlando, for $1,750,000. The land is within the Palm Coast Park Development of Regional Impact (DRI) and is bounded by U.S. Route 1, Old Kings Rd, Interstate 95, and the former Matanzas Golf Course property. The land is designated for up to 644 single-family residential units within the Palm Coast Park DRI master plan.
July 6, 2017, John P. Brennan Holdings LLC, of Salisbury, Md., sold 99 Old Kings Road S (SE corner of Old Kings and SR 100) to GKK LLC, of Palm Coast, for $1,000,000. The property totals 2.3 acres and holds a 6,993-square foot commercial building.
July 12, 2017, Gold Diesel International LLC, of Port Orange, sold 4920 Belle Terre Pkwy (AKA Lot 3 of Albertsons Subdivision, a gas station, and small convenience store) to Palm Coast Fuel LLC, of Miami, for $1,125,000.
July 19, 2017, JPMorgan Chase Bank, of Columbus, Ohio, purchased the recently built Chase branch bank at 214 Palm Coast Pkwy NE in Island Walk from Branch Island Walk Associates LP, of Atlanta, for $3,125,000.
July 24, 2017, Palm Coast Lodging Associates LLC, of Indianapolis Ind., sold Lot 10 of Kingswood Center Phase II (AKA Fairfield Inn by Marriott, 400 Old Kings Road) to Neeha Hotels LLC, of Oklahoma City, Okla., and Orgam LLC, of Oklahoma City, for $8,200,000.
FAIRFIELD INN BY MARRIOTT
July 24, 2017, Boulder Rock 2016 LLC, of Ocala, sold 3 Boulder Rock Dr 100, to International Rug Co Inc, of Palm Coast, for $2,400,000. The commercial building has 10,486 square feet.
3 BOULDER ROCK DR 100
August 8, 2017, PV-Palm Coast LLC, of Safety Harbor, sold Lot 3 of Shoppes of Palm Coast (AKA Aldi Grocery) to Staperfeld Florida Properties LLC, of Dallas, for $2,333,000.
August 11, 2017, BER Real Estate Investments I LLC, of San Francisco, sold Lot 5 of Home Depot Plaza (AKA Bob Evans Restaurant) to 100 Garden Street LLC, of Jamaica, N.Y., for $1,700,000.
August 14, 2017, Palm Coast Land LLC, of Duluth Minn., sold six parcels totaling 790 acres of land within the Palm Coast Park DRI for $1,500,000. The parcels constitute Parcels 1, 2, and 3 of the DRI master plan. The plan classifies Parcel 1 as high-density residential, suitable for either multifamily or single-family dwellings totaling 380 residential units. Parcel 2 is designated as medium-density residential while Parcel 3 is low-density residential. Parcels 2 and 3 combined are entitled for 400 single-family units.
August 16, 2017, PV-Palm Coast LLC, of Safety Harbor, sold lot 1 of Shoppes of Palm Coast (soon to be known as Starbucks) to Palm Coast Bells LLC, of Clearwater, for $1,325,000. A Starbucks is under construction at the site.
August 28, 2017, Matschel of Flagler Inc, of St. Augustine, sold 71 Hargrove Grade (AKA Sunbelt Chemicals) to Alexandra Holdings LLC, of Nokomis, for $3,400,000. Reportedly, the 56,000 square foot building will continue to be used by Sunbelt Chemicals.
The two Palm Coast Land LLC sales are located on the map below.
PALM COAST LAND LLC SALES