For example, locally based Blue Seas Associates paid Marbella LLC an estimated $11 million, or $407,487 per acre ($9.35 per sf), for a prime 27-acre parcel in the Marbella development on the west side of Interstate 4 in south Orange County. Blue Seas plans to develop a 334,000-sf shopping center on the site.
The property abuts both sides of the planned overpass that will connect Palm Parkway and International Drive, according to Colliers Arnold brokers Susan Morris, Kane Morris-Webster and Jill Rose who negotiated for the seller.
"Two of the 27 acres were put into escrow for the new overpass, so the net usable acres are 25," Morris-Webster tells GlobeSt.com.
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