L.M. Sandler and Sons Inc. of Virginia Beach, Va. and its Miamiaffiliate, SouthStar Development Partners Inc. paid Debra Inc. $60million for the remaining undeveloped 520 acres; the 18-holechampion golf course; and the clubhouse.

The price equates to $115,384 per acre or $2.64 per sf. Thosenumbers compare to $50,000-an-acre prices when the venture brokeground in 1979. Andrew Pugh, Debra Inc.'s executive vice presidentand one of MetroWest's original development principals, will remainin that post to represent the new owners. Debra Inc. is a holdingcorporation in the Netherlands Antilles.

The new owners plan 3.9 million sf of office, apartment andretail on the 520 acres. A 210,000-sf Wal-Mart store; 175,000 sf ofnew retail; and 532 apartment units are expected to be the first tosurface in 2001. MetroWest has a population of 12,000 living in6,800 apartments and 1,250 single-family homes.