Coldwell Banker Commercial Paradise Completes $7,368,000 Sale of Former 84-Acre Citrus Grove to Pulte Homes Group
VERO BEACH, FLA. (Dec. 23, 2024) – Coldwell Banker Commercial Paradise is proud to announce the $7,368,000 sale of an 84-plus-acre tract in Vero Beach, Florida that has been approved for the development of a 175-lot subdivision by the Pulte Homes Group.
The Indian River County Commission approved the project on Dec. 3, clearing the way for residential development of the vacant property at two units per acre. The lot at 4575 13 Street SW in Vero Beach is positioned in southern Indian River County, within the Urban Services Boundary.
Frank Strazzulla, Philip Strazzulla and Jeff Luther of Coldwell Banker Commercial Paradise represented the sellers, Randy Sexton, Jr., Frances Sexton and Audrey Sexton.
“The Sexton family and their sale of approximately 84 acres of former citrus groves to Pulte Home Group reflects a significant moment in the evolving landscape of Florida’s Treasure Coast,” said Frank. The Sextons are one of the area’s longstanding prominent families with roots deeply embedded in Florida’s citrus history. For decades, the land has been part of the family’s legacy, as well as an integral part of Florida’s economy and culture. “However, changing market dynamics, urban development pressures, and shifts in agriculture made it unprofitable to continue to farm the land,” said Frank. Finding themselves at a crossroads in 2020, the Sexton family made the pivotal decision to sell the property in order to meet the demands of the region’s growing population.
For the past three years, Coldwell Banker Commercial Paradise has assisted the Sextons in the process of entitling the land and choosing to sell the land to Pulte Homes Group, one of the nation’s leading residential developers. “This deal represents not just a financial milestone, but also a transformation of the land’s purpose, from a productive grove that once contributed to Florida’s citrus dominance to a potential hub for modern residential living,” said Philip. “The sale aligns with a broader trend in Florida, where agricultural lands are being converted into residential communities to support the state’s booming population growth.”
Pulte’s planned development is expected to bring new homes, amenities, and activity to the region, while also honoring the legacy of the land through thoughtful design and integration into the local community. “For the Sextons, this moment marks the beginning of a new chapter, one where their land will continue to serve the Treasure Coast, not as a citrus grove, but as a thriving residential community that meets the needs of Florida’s future generations,” said Luther.
About Coldwell Banker Commercial Affiliates
Coldwell Banker Commercial Paradise, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.
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Media Contact: Kevin Guhl, kevin.guhl@cbhomeoffice.com, 973-407-5916
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