University Plaza Properties Buys Miami Land

University Plaza Properties, Inc. acquired 0.97 acres on NW 18th Ter. in Miami, FL, where it plans to build a 140-bed, four-story, 80,000-square-foot nursing home. The project is scheduled to break ground later this month.

Palms-Jackson LC sold the vacant land for $ 4.74 million. The sale price includes all entitlements for approval of the planned nursing home facility.

No buyer or seller brokers were involved in the sale.

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South Florida Commercial Real Estate News From CoStar Group