Kuhn Buys Jaymont Block for Record $11M

ORLANDO-Paying a record price, developer Cameron B. Kuhn and three partners in a Downtown law firm have acquired the vacant 2.3-acre Jaymont Block of several dilapidated commercial buildings for $10.8 million, or $4.7 million per acre. The buildings have total development space of about one million sf, area brokers tell GlobeSt.com.

The previous highest price for a Downtown commercial property was paid by the seller, local billionaire industrialist Joseph Lewis and his associates, when they bought the Jaymont Block from a Saudi Arabian syndicate in November 2001 for $7.6 million, or $3.3 million per acre.

On a per-sf basis, Kuhn also holds the record on the sale of a commercial building. After buying the 50-year-old, 15,502-sf Gibbs-Louis retail building in 2001 for $1.5 million, or $96.20 per sf, Kuhn sold the property to Umesh Patel and Dilip Patel in July of this year for $3.1 million, or $195.61 per sf, as GlobeSt.com previously reported.