The $9.20-per-sf price is the steepest this year for a tourist-oriented parcel in Central Florida, according to GlobeSt.com research. The transaction was first reported by GlobeSt.com in October 2003. Paperwork for local and state agencies delayed the closing.
The buyer plans to erect a 250-unit condo community on the site, Tandy O. Lofland, president, Intergroup Cos., Houston, tells GlobeSt.com. The 12.1 acres are within the 195-acre, mixed-use Parkway development that Intergroup developed, marketed and managed for the past 15 years.
"The Parkway is approximately 80% built out and, when completed in 2008, will contain over 1,000 hotel rooms, some 1,150 large timeshare units, 288 condos, extensive retail and restaurant space, and a large equestrian-themed tourist attraction--all on more than a dozen sites," Lofland says.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.