The 40 acres are south of Alico road, directly across from the 1,200 acres sold earlier, and directly north of 244 acres that are now under contract by the Richard E. Jacobs Group. The Richard E. Jacobs' plan is to build a regional mall that could stretch more than 1.8 million sf.
Bernie Lester, Alico's president, tells GlobeSt.com that the company bought back the 40 acres because of some regulatory issues. Lester declined to discuss the "issues." He says the property eventually "could well become part of the mall.
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