X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-In a strategic purchase, Carroll County officials have acquired the prime 252-acre Wilks Tract along the Upper Little Tallapoosa River, a location commercial developers have been ogling, area industrial brokers familiar with the property tell GlobeSt.com.

The county paid $1.4 million, or $5,397 per acre, a figure that would have quadrupled under commercial zoning, brokers tell GlobeSt.com. At 12 cents per sf, brokers say the county completed a prudent transaction at this time.

The Trust For Public Land, based in Washington, DC, locked up the land deal by buying it quickly, holding the dirt for a short period and then re-selling it to the county when the county obtained purchase funds, the Trust confirms. The two-section property is near GA 113 and McKenzie Bridge Road.

The county funded the acquisition through a state green-space grant and proceeds from a recently approved special sales tax.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.