Cushman & Wakefield has been retained by investor John Devaney to market two adjoining waterfront properties on Vero Beach’s north barrier island. Cushman & Wakefield Virgilio Fernandez is leading the marketing effort on behalf of Devaney. The sites can be purchased together or separately. The listing price for the two properties is over $60 million.
The Grand Oceanfront & River Estate, located at 12906 Jimmy Buffett Memorial Highway, encompasses approximately 14.84 acres, including 8.63 acres of buildable upland stretching from the Atlantic Ocean to the Indian River Lagoon and 6.21 acres of privately owned submerged land. The neighboring River Peninsula Estate, located at 12505 Jimmy Buffett Memorial Highway, totals approximately 15.44 acres, including 8.33 acres of upland and 7.11 acres of privately owned submerged land.
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The sites may offer opportunities for condominium development and private marina uses, subject to applicable approvals and entitlements. Additional density could potentially be pursued through planned residential development approval or a future land use amendment.
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