Real-estate giant buys 537 acres of Florida Research Park (Palm Beach: housing, lease)

[sunrico90]

A Chicago-based industrial real-estate giant has just bought 537 acres of the Florida Research Park in Palm Beach County in the sale of a parcel it is touting as one of the last contiguous tracts of buildable land in south Florida. The company plans to build out the property in phases including both built-to-suit and speculative development, and the company expressly intends to build research and development/flex facilities to "accommodate a growing demand for research space, principally from the bio tech and bio medical sectors," said a news release.

What would it be next?

[LingLing]

A lot of biotech jobs and another housing boom if the hurricane won't sink the south Florida. If a big earth quake hits San Diego or San Francisco, the housing boom in south Florida will be more than you have ever seen. I am from San Diego and I experienced the earthquake in early 1990s. It is much much much more scaring than hurricane Wilma.

[dreamofmonterey]

A housing boom in S Florida is hardly something unusual. IBM in Boca caused a big boom in the 70's (Rte 441 American Homes) Then in 1995-1999 those houses were a ghost town when IBM relocated its corporate headquarters to Georgia. A boom in Fl is usually driven by greed and avarice. It is not a given, "win-win" situation.

sunny

[TriMT7]

The only problem with "Florida Research Park" is that it's out in Western Palm Beach County in the middle of nowhere. If it does come to pass, look for more housing sprawl, road widening construction, and commutes at $4.00+ per gallon. The land is cheaper out there, because nobody lives there, which is why they have bought it! Companies SHOULD have looked to downtown, where there is lots of newly available land ready for development with tons of housing options surrounding for employees!

[LingLing]

Okay. I've been to the research park to look for space for a biotech company. It is remote but not that far. The goal is to expand. When Scripps chose the Mecca Farm, Lennar and Centex bought land to develop. Well, I know at least three Scripps employees built houses there. I guess the goal is to allow further expansion in the future. Regarding the comment "greed", is it the word "greed" that drives American economy? Which company really cares about there employees? Look at Walmart. Everyone who started it is very very rich. But their workers were paid very little. Do you shop at Walmart?