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SUNRISE, FL-Davie-based Weitzer/Kislak Sawgrass LLP acquired an 8.3-acre tract of lakefront land that includes 1.7 acres of lake bottom. It is located at the corner of Flamingo Road and Pink Flamingo Lane in the Sawgrass Mills Development Plan. The price is just over $8.7 million, or a little more than $1 million an acre.

Bard Brenner of Miami-based Sam Brenner Inc. brought the buyer, a partnership headed by Harry Weitzer, to the table and negotiated the transaction with the seller, Arlington, VA-based Mills Services Corp., which was represented in house by Bill Montgomery, SVP of peripheral development. The land is across from Mills Corp.’s 2.1-million-sf Sawgrass Mills Mall.

Of the land sale, Brenner tells GlobeSt.com, “it’s the culmination of a long process in which three to four developers vied for, but never finalized plans to develop this piece of the new urban core of Sunrise. The price, he adds, “is reasonable for waterfront land.”

Weitzer, a long-time builder of residential communities throughout South Florida, sold many of his assets to Sergio Pina’s Miami-based Century Homebuilders, according to Brenner. Weitzer could not be reached at press time. However, according to published reports confirmed by Brenner, he plans to develop Tao, a 396-unit residential condo complex consisting of two 26-story towers, on the land. It will be his first high-rise project since selling his former company to Pina. According to published reports, Tao will contain one-, two- and three-bedroom units along with two-story, ground-level villas. Units will range from about 1,100 sf to 2,000 sf and are expected to sell in a range from the low $300,000s to the $800,000s.

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