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Carlsbad Parcel Trades Hands

CARLSBAD-Merit Group Inc. acquires the vacant site, with plans to build homes worth $450,000 or more on the property. Housing a total of 12 planned lots, the parcel encompasses five acres.

By Erin Cassin | Updated on January 06, 2004

SAN DIEGO-Merit Group Inc. has shelled out $490,000 an acre, or nearly $2.5 million total, for a vacant site in Carlsbad, with plans to build homes on the property.

The parcel, which encompasses five acres, is located at the corner of Black Rail and Poinsettia. It contains a total of 12 planned lots, which is what attracted Merit Group Inc. to the property, according to Michael Kassinger, a Sperry Van Ness broker who worked on the deal. “The buyer plans to develop houses (on the parcel) in the $450,000-plus range,” Kassinger adds.

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