Crescent Heights has purchased the Staples property on Biscayne Boulevard in Edgewater.
Company co-founder Russell Galbut told the SFBJ that they will develop a project on the site once the Staples lease end, saying that the developer is a long-term player.
Staples has four years left on the lease, with an additional 10 year option.
Crescent Height was among multiple bidders for the property, and paid $14 million.
Up to 150 units per acre can be built on the 43,427-square-foot site.
