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ST. AUGUSTINE, FL-Mike Pullen of Jacksonville can play on the 140-acre, 18-hole St. Augustine Shores Golf Club course anytime he pleases. He bought the 29-year-old property at 707 Shores Blvd. from Bank of America Inc.’s Los Angeles division for $1.7 million, or about $12,143 per acre (28 cents per sf).

A 6,770-sf clubhouse was included in the sale. Roger Garret of CB Richard Ellis Inc.’s Phoenix office represented the buyer and seller.

Designed by John Denton, the signature hole at the semi-private club’s course is the 488-yard, 11th hole which has a large lake in front of it. The hole is rated a par 5.

Never known as a commercial real estate hub, the city, nevertheless, is receiving increasing attention from national real estate developers.

For example, James F. Jacoby, the Atlanta developer who is building the $2 billion, 138-acre, mixed-use Atlantic Station venture in Midtown Atlanta, plans to break ground this fall on an estimated $25 million enterprise. The project would include 100 condominiums, 25 office/loft structures and 80 single-family residences, as GlobeSt.com previously reported.

Construction industry estimators tell GlobeSt.com the condominiums could come in at an individual hard cost of $100,000, or $10 million; the single-family homes at an estimated $80,000 each, or about $6.5 million; and the office/loft project about $8.5 million.

Besides the new commercial development, Jacoby plans to start construction in September on a new dolphin lagoon complex at Marineland, 16 miles south of the city. Visitors to the 65-year-old Marineland attraction would be allowed to feed the wildlife, pet the dolphins, scuba dive and snorkel in the five-acre, 450,000-gallon oceanarium structure.

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