Lennar Corp., a residential development company based in Miami, FL, purchased 20.6 acres at the intersection of Peachtree Parkway and Metlock Bridge Road in Norcross, GA.
Roberts Properties sold the undeveloped land for $7.59 million, or approximately $368,000 per acre. The seller acquired the site in 2004 with the intent to develop it, but had not yet done so by the time of sale.
The Jordan Co. Investment & Commercial Real Estate
represented Lennar. Roberts Properties did not use a broker.
Please see CoStar COMPS #2674868 for more information on this transaction.