"The owners have been sitting on the property for some time andrecognized the value of a larger parcel in one of the fastestgrowing areas of Florida," says Ronnie Issenberg, an investmentsales specialist in the local office of Marcus & Millichap."They decided to take out the equity and set up outside the urbandevelopment line, where land is much less expensive," he tellsGlobeSt.com.

Issenberg assembled the full parcel and is marketing it at anasking price of $18 million, which translates to $500,000 an acreor $11.47 per sf. "Dade County is trying to get developers here tobuild vertical versus urban sprawl," he says, "and land is hard tocome by in Miami-Dade County."

The parcel runs along the region's new high-speed, mass-transitbus route and Old Dixie Highway. It is parallel to US Hwy. 1, andthe Winn-Dixie and Publix shopping centers are nearby. Demand forhousing in this area "is at an all-time high," Issenberg says,adding, "a new county high school is being built across thestreet."