A 58-acre vacant parcel of property straddling Island Way in Jupiter was bought Monday for $11 million by Crossroads 6101 LLC.
The land, just east of I-95 and north of Indiantown Road, was owned by DDR Jupiter Falls, an affiliate of Beachwood, Ohio-based DDR Corp. (NYSE: DDR).
Crossroads 6101 is an entity controlled by FLF Management, which is a partnership between Jupiter-based FLF Holdings led by Josh Simon and Schaumburg, Illinois-based Crossroads Development Partners led by Michael Nortman.
FLF bought 92,000 square feet of Downtown Abacoa commercial property, along with about 3 acres of vacant land, in March, 2013 for $5.1 million.
“We plan to develop a first class business park that will attract the many engineering, aerospace, and life science companies that are proliferating in the market,” Nortman said via e-mail.
The property is one of the largest vacant pieces of land east of I-95 in northern Palm Beach County with frontage on Indiantown Road and both sides of Island Way.
“In addition to office, manufacturing, and light industrial/R&D space, other uses that we envision attracting include hotel, restaurant, daycare, and education. We would also hope to attract and have community support for medical uses that support our north Palm Beach County life science cluster such as assisted living, clinical research labs/hospital, and life science incubator space,” said Danny Simon via e-mail