For example, locally based Blue Seas Associates paid MarbellaLLC an estimated $11 million, or $407,487 per acre ($9.35 per sf),for a prime 27-acre parcel in the Marbella development on the westside of Interstate 4 in south Orange County. Blue Seas plans todevelop a 334,000-sf shopping center on the site.
The property abuts both sides of the planned overpass that willconnect Palm Parkway and International Drive, according to ColliersArnold brokers Susan Morris, Kane Morris-Webster and Jill Rose whonegotiated for the seller.
"Two of the 27 acres were put into escrow for the new overpass,so the net usable acres are 25," Morris-Webster tellsGlobeSt.com.
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