Red Balloon Portfolio · Operating
Homestead — Princeton.
Operating — Lease-up · Ground-up development · 23815 S Dixie Hwy, Homestead, FL
117,331
Gross square feet
1,195
Units
Feb 2025
Certificate of occupancy
$19.74M
Total cost
The Project
Ground-up delivery in the Miami MSA.
RBS purchased the South Dixie Highway site in May 2022 and started construction in June 2023. The facility received its certificate of occupancy in February 2025.
The property is operated by SpaceShop and is in lease-up.
| Location | 23815 S Dixie Hwy, Homestead, FL |
| Type | Ground-up development |
| Status | Operating — Lease-up |
| Gross SF | 117,331 |
| Units | 1,195 |
| Land purchase | May 2022 |
| Land cost | $3.575M |
| Construction start | Jun 2023 |
| Certificate of occupancy | Feb 2025 |
| Total cost | $19.74M |
| Operator | SpaceShop |
