One parcel of land in Florida is gaining attention as a promising area for commercial real estate opportunities. This potential commercial real estate site, located in the northern Florida region, features forests and is slated to bring in excess of $1 billion when sold in 2015. The land spans a whopping 560,000 acres.
This tract, which is going on the market, offers a future buyer the opportunity to either sell development rights or to develop the land. The part of the state is largely uninhabited, but as Florida grows in popularity, this area is expected to also experience a surge of interest. If the property can be developed, significant growth is expected to occur there.
Many hardwood, oak and cedar trees cover the 900 square miles of land there. The land used to be owned by Procter & Gamble, and the company harvested trees and then processed them in order to create pulp for its diapers. The company then sold this tract of land to investors. The land offers the benefit of never having been struck by a hurricane.
Engaging in a potentially profitable commercial real estate deal can be exciting, but the deal may not go smoothly if it is not approached in the proper manner. This type of real estate transaction can be complicated for developers for a variety of reasons, ranging from tax law tissues to securitization and banking considerations. Securing experienced legal help with regard to real estate law may help investors in Florida to structure commercial real estate transactions that lead to maximized business opportunities and minimized risk in the long run.
Source: The New York Times, "560,000-Acre Swath of Florida Land Going on the Market", David Gelles, April 1, 2015