Local Group Trades 59-Acre Parcel for $5.6 Million
Lot To Be Used for Multifamily Development under the name of Picketville Partners Ltd., sold 59 acres to Boca Raton-based Falcon Commercial Development. The $5.6 million sale price ($95,220 per acre) included the 59-acre land parcel, as well as the site plans and permits. The parcel is at the southeast corner of Pritchard Road and Imeson Road in the Northwest Jacksonville submarket. The proposed usage for the undeveloped land is the development of an apartment complex with 500 to 550 units. Jack Allen of the Allen Land Group facilitated the transaction on behalf of both the buyer and seller. For further information, refer to CoStar COMPS #1361648.
Written by Mishka Parkins
RealEstate-JacksonvilleFlorida
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