DIX Developments Closes $5 Million Sale of 53-Acre Halifax Town Center I-95 Interchange Property i
Ormond Beach, Fla. --- Stirling International Real Estate recently arranged the $5 Million sale of Halifax Town Center in Ormond Beach, Fla. Dixie 95 OBD, LLC a company related to O2G Capital of Ontario, Canada, purchased the 53-acre mixed use development from Lake Mary Based DIX Developments, LLC who was represented in the sale by Stirling’s John Kurtz.
The mixed-use development located along a high-impact growth corridor between Daytona Beach and Halifax Plantation, was aggressively marketed by Kurtz and the Stirling team on behalf of James Dicks, CEO of the selling entity. The sale took only 120 days from contract to closing, according to Kurtz.
“We felt that the property’s location at an underserved I-95 interchange just a few minutes to the Atlantic Ocean and intercoastal waterway, played a major role in moving the property,” Dicks said. “The is tremendous opportunity both to leverage retail demand fueled by new residential development in the area and create a unique village focused on providing second homes for the new ownership,” said Dicks.
The site which is situated at the southeast quadrant of Interstate 95 and Old Dixie Highway has an approved plat, is ready to finish the topping of the road and recording of the plat. It has storm water retention and utilities, and the buying group is looking to make changes to the current plan which will require County approval.
Halifax Town Center is part of the golf course community Halifax Plantation’s planned development (PD) in Volusia County with an Ormond Beach address, which has gone through a major transition in ownership in the past few years. Kurtz has been working with the previous owner/developer of the entire community Halifax Plantation, Inc. since 2016 in the disposition of the remaining properties.
Kurtz brokered the sale of the remaining 230+/- acres of residential property to Vanacore Homes in a two-part sale spanning 2017 and 2018, and the sale of the 53 acre Town Center site to DIX Developments LLC in early 2018. Kurtz, in conjunction with Marcus and Millichap, orchestrated the sale of the 18-hole golf course and clubhouse in 2017. Halifax Plantation is just minutes from the Atlantic Ocean and intercoastal waterway in Ormond Beach”.
The total construction value of the 53 Acre Town Center is estimated at more than $75 million.
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About DIX Developments, LLC
DIX Developments, LLC is a full service real estate company committed to providing quality developments throughout Central Florida. The dedicated team of industry professionals works to create properties that are well positioned, attractive, financially sound, and inclusive of green planning and development, DIX Developments, LLC provides the highest quality projects by maintaining the strictest attention to detail, and prides itself on being able to manage those details during every phase of the project.