The Palm Beach County real estate market has been active this summer. South of downtown West Palm Beach, investment properties have been closing on Dixie Highway south of Southern Boulevard. Here is more on the recent commercial growth and activity south along Dixie Highway.
“SoSo” Continues to Grow
On Dixie Highway South of Southern Boulevard or “SoSo” commercial development has not been deterred by the pandemic. Over the past several months, new restaurants, retail shops, and design centers have been opening throughout the area.
In December of last year, the former Mary Fisher design building at 4912 S. Dixie Highway, sold for $2.4 million to Precision Esthetics Dental Laboratory. The company plans to move into the 8,100-square-foot Dixie Highway building by the year’s end to expand its manufacturing capability. In addition, the company is expected to bring an expected 30 new jobs.
In March, a retail center at 5707 S. Dixie Highway traded for $1.6 million. The property is fully-leased. Recently, the Hatfield Building, a well-known area commercial property at 5301 S. Dixie Highway, sold earlier this summer. The historic property was a grocery store in the 1920s, and later, a diaper factory, before passing to the Hatfield rug cleaning business. The new owners plan to modernize the commercial structure and repair the roof. Hatfield’s will remain on-site in a smaller part of the building.
High-End Grocers Are Building in the Area
Another recent development in the area includes an investor group paying $950,000 for a 9,300 square foot building complex that spans from Putnam Road to Oxford Street. Future development plans for the site include a gourmet market and an executive office space that will serve residents of an upscale neighboring community.
The trend towards gourmet community grocery stores continues to grow in this area. South of Belvedere Road at 2751 S. Dixie Highway, Tricera Capital, has announced plans to develop an unnamed grocery. North on the Dixie Highway at 420 Claremore Drive, in the former Ragtops Antique Auto dealership, a Bedner’s Farm Fresh Market is under construction in the planned Flamingo Place development. The new market is scheduled to open by November.
Residential Sales and Office Work Spaces
Residential sales in this part of West Palm Beach have taken off recently. Renovated and demolition projects are now making way for luxury homes. With low inventory and strong buyer demand, high-end properties are selling for top dollar. Executive office spaces for those who want to work close to home are also on the horizon. One developer has announced plans to build ten to twelve office spaces in the SoSo area.
Contact a Florida Board-Certified Real Estate Attorney
At Rabideau Klein, David E. Klein, Esq. and Guy Rabideau, Esq. are dedicated, Palm Beach County Florida Bar Board-Certified Real Estate Attorneys with extensive experience assisting clients with multi-million-dollar property transactions. We have the expertise and knowledge you need to ensure that your property interests are protected. Contact Rabideau Klein today to discuss your real estate legal needs.