Homebuilder and pilot Joe Voyles of Berkeley has closed a $1.7-million deal with Mathis Airport owner CJ Mathis to buy the property for $2.23 per sf, or about 20 times more than it might have sold for only 15 years ago, area industrial real estate brokers dealing in land sales, tell Globest.com.
Area brokers intimate with the transaction tells GlobeSt.com Voyles plans to improve the property as an airport venue, build a $40,000 clubhouse, sell 80 steel-constructed hangars (40 feet wide by 14 feet high) for $30,000 each and charge an additional $375 per month to cover his costs for taxes, insurance and maintenance of the 1,800-foot long landing strip.
Brokers tell GlobeSt.com Voyles already has sold 17 hangars for a total $510,000. The pilot's financial partner in the land deal is Jim Williams, a former neighbor and CEO of Duluth-based Consultants and Builders Inc.
Voyles fell into the deal after Buckhead-based Focus Development Inc. withdrew its rezoning application to Forsyth County in March and walked away from the Mathis Airport land deal. The Focus contract with Mathis was also for $1.7 million.
Focus had planned to build a 110-home subdivision on a total 44-acre site that included 29 acres owned by separate individuals near the 15-acre airport site. The planned subdivision site is across the road from the Laurel Springs subdivision, a gated community with a Jack Nicklaus-designed golf course.
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