The sales price was not disclosed but the asking price was $47,000 per acre or nearly $3.8 million. Representatives from Shorewood Properties did not return phone calls requesting an interview.
Noel Liston, principal of Darwin Realty & Development Corp., represented the seller and buyer in the transaction. Shorewood bought the land with plans for a retail and residential development to be constructed at the site, Liston says. "The property was primarily bought as an investment," he says. Shorewood Properties will put in the utilities and the infrastructure at the site and may, then, develop the parcel or sell it to a developer, Liston tells GlobeSt.com. The property will likely have retail and an apartment complex, he says.
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