Lawrenceville-Suwanee Associates purchased three parcels totaling 116 acres from individual landowners for $13.3 million or $114,655 per acre ($2.63 per sf). The speculator will sell the dirt to Motorola for a so-far undisclosed price. The bulk of the land, an 111-acre parcel just off I-85, was sold by Falcons Nest II. The team relocated last year to a new center in Flowery Branch, 15 miles northeast of Suwanee.
Motorola, based in Schaumburg, IL, plans to consolidate and expand its Atlanta operations comprising office, distribution and light assembly facilities. The company makes cell phones, semiconductors and two-way radios.
The complex, which will house 5,600 existing and new workers, is expected to be completed in 2005. Scott McGregor of Resource Real Estate Partners represented Falcons Nest II in the land sale.
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