Here's more evidence that the housing market is hot. GL Homes says it has surpassed 400 sales for more than $360 million at The Bridges near Delray Beach.
About 100 owners have moved into the 591-home luxury development along Lyons Road between Clint Moore Road and Atlantic Avenue. Prices range from $581,000 to $1.6 million.
GL opened the community 16 months ago and says it could be sold out by the end of this year.
"People sat on the sidelines and now they want to get back into the market," said Marcie DePlaza, division president of Sunrise-based GL.
A little north on Lyons near Boynton Beach, GL opened the 55-and-over Valencia Cove in April and has sold 100 homes so far. Models are going up now, and GL will start building the 823 homes this fall.
Because of the improving market, the builder has hired 31 workers so far this year.
West Palm Beach brokerage sold
Avison Young, a commercial real estate services firm, announced last week the acquisition of WG Compass Realty Cos. of West Palm Beach.
WG Compass was founded in 2009 by veteran brokers Donald DeWoody, Gary Gottlieb, Jonathan Satter and Mike Walters. WG Compass works with regional and national clients on site selection as well as brokerage, management, development and consulting services.
Avison Young opened its first South Florida offices last fall in Fort Lauderdale, Boca Raton and Miami. The firm was founded by 30 agents from Flagler Real Estate Services.
Boca real estate firm expanding
Boca Raton-based Lang Realty continues to expand its footprint into northern Palm Beach County. It opened an office in Jupiter at 601 Heritage Dr., Suite 152.
Lang also is planning a second Jupiter office, in addition to an existing location in Palm Beach Gardens office. The firm now has 10 offices in Palm Beach and St. Lucie counties.
Miramar office park almost finished
IDI, an industrial real estate company, announced last week it has started construction on the final building in the 1.1 million-square-foot Miramar Centre Business Park.
Miramar Centre Building B will be 300,428 square feet and is expected to be ready by December.
AeroTurbine relocated its corporate headquarters to the eight-building park last year. The aviation supply company took 264,000 square feet, the largest speculative industrial lease in Broward County in the past five years, according to IDI.
Fort Lauderdale building fetches $1.3 million
Fort Lauderdale Dermatology & Cosmetic Center recently paid $1.3 million for an office building on North Federal Highway.
The dermatology practice wants to consolidate two other offices into the 18,577-square-foot building, said Rick Bonvie, the broker who represented both sides of the transaction.
The seller was Gene Monaco, who designed and built the structure.
Supplement maker re-ups in Weston
Vital Pharmaceuticals has renewed its lease for 102,000 square feet within the Weston Business Park.
The maker of sports supplements shares a 226,000-square-foot building at 1600 North Park Drive with Kraft Foods.
Cushman & Wakefield announced the deal.
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