Past Transactions

Cascades of Groveland, Lake County, FL
Ryan Sampson, ALC, CCIM
Broker-Associate

Bill Eshenbaugh, ALC, CCIM
Broker-President Eshenbaugh Land Company

Ryan Sampson ALC, CCIM and Bill Eshenbaugh, ALC, CCIM closed the sale of Cascades of Groveland, Lake County, FL. This property is an approved and partially developed community for age 55+ buyers. It is 731± acres located just west of U.S. Highway 27 in Lake County. Cascades of Groveland was designed to be sub Development of Regional Impact at 999 units and is restricted to buyers of 55+ age group (re: retirement type community). Of the original 999 lots, at the time of the sale there were 761 lots and of these, 390 were unplatted. Of the 371 lots, eight had model homes, two had completed "spec" homes and 15 had partially completed homes for a total of 25 lots. The community is a gated community with private streets.

California-based Shea Homes purchased the homesites and the commercial land at the "Cascades" sold for $5.3 million. According an article in the Orlando Sentinel, the property was renamed "Trilogy" by Shea Homes. The community is built around lakes, open spaces and wetlands. Plans were underway to complete a 38,000-square foot members-only clubhouse.

Bay Pines
Pinellas County, Seminole, Florida
Nancy Surak, ALC, CCIM
Broker-Associate

Bill Eshenbaugh, ALC, CCIM
Broker-President Eshenbaugh Land Company

Nancy Surak, ALC, CCIM and Bill Eshenbaugh, ALC, CCIM closed the sale of Bay Pines a mixed-use, 59.19± acre site located at 1005 Bay Pines Blvd. in Pinellas County, Seminole, Florida. Nancy and Bill represented the seller while Kitson & Partners were the buyers closing the sale for $7,650,000. Bay Pines (the former Bay Pines Mobile Home Park) is directly north of the Veterans Administration Hospital which currently employs over 4,000 people and serves about 100,000 patients who visit the center more than a million times a year (according to Andrew Carmody, a Kitson Senior Vice President as quoted in the St. Petersburg Times). Bay Pines is located approximately 20 minutes from I-275 and 25 minutes from downtown St. Petersburg, FL.

Currently zoned and approved for 1,119 residential units, the City of Seminole is considering the development of a mixed-use project on the site (retail, office, hotel, residential). Possible uses include grocery, retail box, bank, gas, fast food, hotel and apartments.

Steve Messing, President of Kitson's commercial division said, "It is rare to find property so well suited for a vibrant mix of services," according to an article in the St. Petersburg Times. The site will also have room for a fire station, said Mark Ely, head of Seminole's community development department. The city long ago required the property's owner to set aside enough land so the City could build a station at that end of town.

Kitson was founded in 1992. It prides itself on developing environmentally friendly projects. It has residential and commercial projects around the world. One of its most ambitious projects is the Babcock Ranch — 18,000 acres in Charlotte and Lee Counties that is to be the site of a city powered entirely by the world's largest solar photovoltaic array.

Bay Pines was one of the most significant transactions of the year.

Please see St. Petersburg Times and the Tampa Bay Business Journal articles on the transaction under "Press Releases and Coverage" section.

View our Sales Summary (PDF)