Andy Slowik and Margery Johnson Represented the Seller in the $3.3 Million Disposition
DAYTONA BEACH, FL, January 22, 2018 — Cushman & Wakefield has negotiated the sale of a ±390-acre residential site fronting Interstate 95 in Volusia County.
The Cushman & Wakefield Land Brokerage team of Senior Associate Andy Slowik and Senior Director Margery Johnson represented the seller in the disposition. New Smyrna Beach, FL-based investor Masroc Land, L.P. acquired the land for $3.3 million ($8,462 per acre). SVN’s Chris Butera represented Masroc Land, L.P. in the transaction.
The infill residential site, located on the east side of Interstate 95 just south of the Interstate 4/Belleville Road Interchange, features ±6,000 feet of frontage on Interstate 95 and ±5,400 feet of frontage on Willamson Boulevard. The land has the potential to yield up to 1,000 single-family homes.
“We believe the buyer will be successful with this property given the recent development activity along the I-95 corridor in Daytona Beach,” said Slowik. “The capital being poured into projects such as the International Speedway expansion, the development of Tanger Outlets and massive residential projects like Latitude Margaritaville are strong indicators of developers’ confidence in the region.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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