Bill McDermott – the CEO of SAP, which has its U.S. headquarters in Newtown Square – is selling his home in Jupiter, Fla., for $17.75 million, writes Candace Taylor for The Wall Street Journal.

McDermott bought the home from country singer Alan Jackson in 2012 for $10.45 million.

Jupiter is a narrow barrier island on the Atlantic Ocean. The 1.2-acre property extends from the ocean to the Intracoastal Waterway. The main house is 9,600 square feet, and has five bedrooms, an elevator, a home theater, and a library. There’s also a one-bedroom guesthouse.

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The property has a swimming pool, a putting green, and a boardwalk leading to the beach. On the Intracoastal side, there is a private dock and a deck.

McDermott, 56, is selling the property because his heavy travel schedule does not permit him to spend much time there. He did purchase a vacant piece of land on the Intracoastal Waterway in Palm Beach for $14.11 million. This purchase is an investment. McDermott has no immediate plans to build a house on that land.

Read more about the Jupiter Island property in The Wall Street Journal by clicking here.

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