CSX Transportation Sells 41 Acres in South Florida

MIAMI-In three separate transactions, CSX Transportation has sold more than 41 acres of industrial land recently in South Florida for more than $4.7 million combined.

The buyers are primarily users that plan to build buildings for their own purposes on the land, Harry E. Wardell, a vice president with locally based Lincoln Property Co., tells GlobeSt.com. Wardell and Steven J. Medwin, also a vice president with Lincoln Property represented CSX Transportation in all three sales.

“CSX has always sold their surplus land,” Wardell says. These three pieces totaling 41.1 acres were the last three pieces of CSX’s surplus land in South Florida and almost on the whole East Coast of Florida, he says.

Coparts Inc., which holds wrecked automobiles until insurance companies inspect them, purchased the biggest tract of land. The company bought 23.4 acres for nearly $2.3 million, which is about $97,998 per acre. The site is located in northwest Miami-Dade County, west of Northwest 36th Avenue between Northwest 107th Street and Northwest 119th Street. Michael Sigerman of Lucky Commercial Realty represented Coparts Inc.

In the other two sales Mora Engineering bought 2.9 acres in a transaction worth $500,000, or nearly $172,414 per acre. The company plans to put its corporate offices on the site in a move from Coral Springs, FL. The property is located in Delray Beach along Depot Avenue just north of Atlantic Avenue. Wardell and Medwin also represented Mora Engineering in this sale. Additionally, J&L Capital Holdings purchased 14.7 acres for $1.9 million, or approximately $130,678 per acre. This property is located in Riviera Beach south of Dr. Martin Luther King Jr. Boulevard at Avenue S. The buyer is planning to make the site a storage yard. Greg Lyons of Featherstone Realty represented J&L Capital Holdings in the transaction.