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City Holds Up Vote on 200 Acres Sought by Unmasked 'Mystery Buyer'

LEESBURG, FL-After second thoughts on a land deal that sounded too sweet for the "mystery buyer" in the first place, city commissioners have postponed a vote on a transaction that is slowly taking on a life of its own. The buyer is believed to be Wal-Mart Stores Inc.

By Alex Finkelstein | Updated on September 26, 2000

LEESBURG, FL-Such a deal. That’s what has city commissioners concerned in this Lake County city of 16,000 residents 45 miles northwest of Downtown Orlando.

Commissioners are postponing a vote on the transaction until they gather additional information on the land’s value and the terms of the proposed acquisition.

The deal centers around a $1.6 million purchase by a so-far unidentified corporate buyer for 200 acres of city-owned land that would be used to develop a 1.2 million-sf warehouse/distribution center at an estimated construction cost of $60 million.

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