Land Advisors Organization (LAO), a premier nationwide land brokerage firm, announces the successful execution of their most recent land disposition assignments in the Orlando metropolitan area.
The LAO-Orlando team of Steve Flanagan, Mike Ripley and Steve Ruoff represented Narcoossee Land Ventures LLC in their June 16 purchase of 163 acres of residential land located east of Hickory Tree Road in Osceola County. Sold by Live Oak Ranch, Inc. for $6.4 million the property is entitled for 355 residential units which will be developed as Phase II of Twin Lakes, a master planned community located approximately 10 miles south of Medical City on either side of the New Nolte Road extension between Live Oak Lake and Sardine Lake.
The Orlando office also represented Narcoossee Land Ventures LLC in its January 2, 2014 $11 million purchase of the 229-acre first phase of Twin Lakes, which has been approved for 737 residential units.
The Sorrento Village transaction on June 20 included the sale of 15.99 acres of commercial land at the southwest corner of SR 44 and CR 437 in unincorporated Lake County. Flanagan, Ripley and Ruoff represented the Seller, Red Eustis Holdings LLC in the sale to Sorrento Retail Investments LLC for more than $2.02 million. The Buyer plans to develop the property into Sorrento Hills Village, a 99,400 square foot community shopping center anchored by a 46,000 square foot Publix supermarket.
The Orlando office has closed $23.7 million in eight land sale transactions since January of 2014 and $119 million since inception in February 2009.
For additional information regarding these transactions and land trends occurring in the Orlando area, contact Stephen Flanagan (firstname.lastname@example.org), Mike Ripley (email@example.com) or Steve Ruoff (firstname.lastname@example.org) at 407.425.5988.
For more information about Land Advisors Organization, visit www.landadvisors.com.