Investor Buys 390-Acre Residential Site In Daytona Beach

Jan 25, 2018 No Comments by

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.”

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