The sellers were Gould Electronics Inc. and Palm Beach Commerce Center Associates. The sale price for the land, in Vista Center Corporate Park, was approximately $9.5 million, or $321,663 per acre.

Fairfield Residential could not be reached for further details of the project, but Richard Davis of Grubb & Ellis Co., a broker who represented Fairfield Residential in the land sale, tells GlobeSt.com that the company plans to break ground on the apartment community within the next 60 days.

The land deal was complicated, Davis says, as it involved a land swap with the owner of the golf course there, the relocation of a road to lay the site out properly, approvals from the county and several traffic-related issues. Originally, part of the site was slated for hotel use and part for residential use. Therefore, the land had to be rezoned for all residential use. "It was a very involved land transaction," he states.