The affiliate of the Miami-based industrial land developer would net about $5.6 million from the sale when the deal closes. In July 2000, the company negotiated the rights to acquire the property for $9.4 million, or about $97,917 per acre ($2.25 per sf), from AT&T.
The decision to sell is bit of departure for the Southern Facilities affiliate, which received approval earlier this year from Lauderhill City Commission to plat the property with the intention of building a 1.6 million-sf industrial park.
Subsequently, county officials identified the property as ideally situated as green space for an underserved population of mostly minority residents who live near the site.
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