$10.5 Million Sale of 300 Acres Makes Way for DeBary’s First Traditional Design Community
DeBary, Fla. --- NAI Realvest / Charles Wayne Commercial recently closed on the $10.5 Million sale of just under 300 acres on Fort Florida and Barwick Roads in DeBary. A new 700-unit community called Rivington is planned by the buyer Reader Communities of Orlando and Raleigh, N.C.
Steve Costa, principal at NAI Realvest/Charles Wayne Commercial represented the seller, Empire Cattle, Ltd a third generation, family-owned ranching and citrus operator with land holdings in Putnam and Volusia Counties including development parcels in DeBary and Lake Helen.
Costa said this new home community will be unique to DeBary and is across the highway from The Junction, the 68-acre Charles Wayne mixed use development that includes Bungalow Homes and Apartments underway plus 104,000 square feet of retail space with a major grocery store.
Reader Communities is developing a residential community on the property with traditional elements such a walkability, shared green spaces and alleys to accommodate rear entry garages.
Homes will range from 1,500+ square foot townhomes to single-family homes which will top out around 3,000 square feet, according to Jeff Reader, vice president at Reader Communities.
The master planned community developer markets and sells developed homesites to national homebuilders. Rivington will be developed in several phases of 100–200 lots at a time, and Reader expects homes will be priced from the low $200s to the high $300s.
“This parcel is ideally situated for a new neighborhood development located just over the St. Johns River from the Lake Mary/Sanford employment centers via easy access to 17-92 and Interstate 4,” said Costa.
Rivington is a walkable transit oriented development, immediately adjacent to DeBary’s TOD and it is less than a quarter mile west of the DeBary SunRail station. The convenience to major arterial highways provides its residents with everything Orlando and Central Florida offers. * * *
About NAI Realvest NAI Realvest, serving all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 400 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.NAIRealvest.com.
About Charles Wayne Properties Charles Wayne Properties is an industry leader with a 40-year track record as an investor and developer throughout the Southeast having developed and managed grocery anchored shopping centers, freestanding retail facilities, and office and industrial parks. Since 1978 the firm has worked with local and national brands in various capacities including brokerage, development, investment sales, tenant representation, property management and receivership. Visit www.charleswayne.com for more information.