Posted on October 27, 2015 · Posted in Industrial / Flex, Investments, Land, Multi-Family, Office, Retail

The City of Pembroke Pines acquired a property from the U.S. Post Office that could become a development site.

The city council approved the $17.88 million deal on Oct. 7 after winning a competitive bidding process and closed on the purchase on Oct. 23. Broward County was also a bidder, with the idea to make it a bus depot. The city apparently has other ideas.

The 27.4-acre site at 16000 Pines Blvd. is on the corner of Dykes Road just west of Interstate 75.

The city also signed a temporary lease with USPS for the property. The Post Office intends to keep a 7,500-square-foot retail space on the site, but it’ll close its large distribution facility there. The Post Office will stay in its current building until the city initiatives initiates? a development plan for the property, according to the agreement.

Pembroke Pines officials declined to comment. But the city has a history of buying property and working with private parties to develop them, such as the City Center project with residential and retail and an industrial park by IDI Gazeley.

 

Source: SFBJ

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