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CANTON, GA-This northwest Georgia city of 25,000 permanent residents 35 miles from Downtown Atlanta may soon be hosting its first high-tech business park. Technology Park/Atlanta, headed by Rick O’Brien, expects to close in December on the purchase of 600 acres at a local site known as the Bluffs where the company already owns 70 acres.

Area sources in a position to know tell GlobeSt.com O’Brien plans to sell 60 of the 600 acres to Cherokee County developer Brett Blevins for a residential development that would complement the planned business park. O’Brien and Blevins couldn’t be reached by GlobeSt.com’s publication deadline to learn the estimated prices on the land parcels.

However, industrial brokers familiar with this submarket tell GlobeSt.com O’Brien is probably buying his dirt for about $30,000 an acre, or an estimated total $18 million. Sources project Blevins will probably pay 10% to 20% more for the land.

The City of Canton and the Development Authority of Cherokee County have been working closely with O’Brien on the planned park, area brokers tell GlobeSt.com. Site work on the first 25-acre phase is expected to begin at an undetermined date in 2006.

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