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Developer Buys 18 Acres in Wildomar

Land On Monte Vista Drive Sells for $257,675 Per Acre
February 13, 2008
An investment group led by Karina A. Sappington Living Trust sold 18.24 acres of vacant land at 34400 Monte Vista Drive in Wildomar, CA, to Alesco Development Co. LLC for $4.7 million, or about $257,675 per acre.

This property is composed of two contiguous parcels which front Monte Vista Drive. The intended use is reported to be a business park of industrial or office buildings, but there were no approvals at the time of sale.

Thomas Jackson of Lee & Associates in Murrieta represented both parties.

Please refer to CoStar COMPS #1463066 for additional information.
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