Search
 

Roberts Selling 9.5 Acres in Alpharetta for $3.2M

ATLANTA-The locally based firm signs a letter of intent to sell the undeveloped land on East Fox Court, across from its 403-unit Addison Place apartment community, for $336,842 per acre or $7.73 per sf. Roberts refuses to identify the buyer.

By Marita Thomas | Updated on August 22, 2002

ATLANTA-Locally based Roberts Realty Investors has signed a letter of intent to sell the 9.5-acre East Fox Court in Alpharetta, GA for $3.2 million or $336,842 per acre ($7.73 per sf). The undeveloped land is across from Roberts’ 403-unit Addison Place apartment complex.

Roberts refuses to identify the buyer. The deal is expected to close in Novemeber.

In a printed statement, Charles S. Roberts, chief executive officer, says the sale “will produce a profit of $1.6 million or 22 cents per share when the transaction closes in November 2002.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.