VISTA, CA-Colliers International reported that the sale of a long-vacant plot south of the courthouse will bring new apartments to Vista. Virginia-based AvalonBay Communities Inc. has purchased the 7.3-acre lot for $12.5 million from North Carolina-based Buie Investments. The REIT has plans to build 220 apartments on the plot at 455 and 465 S. Melrose Drive.
AvalonBay also owns and manages properties at 823 Nordahl Road in San Marcos and 2320 Via Clemente in Carlsbad. For the full story, go to The North County Times .
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