Friday, August 3, 2012

NAI Realvest Negotiates $6.6 Million Sale of 54 Acre Site to be Developed as Oviedo on the Park Downtown Center



OVIEDO, FL – NAI Realvest in Maitland recently negotiated the sale of 54 acres off Mitchell Hammock Road and Oviedo Blvd. in Oviedo that is destined for development as a new urban city center.

NAI Realvest principal Thomas E. Hankins (top right photo), CCIM, SIOR, and associate Eric Parrs (lower left photo) negotiated the transaction representing the seller, GAHA Oviedo LLC of San Diego.


PAC Land Development, a Winter Park firm, paid $6,600,000 to acquire the property, which includes almost all of the land designated in the mixed-use Oviedo on the Park PUD development plan approved by the City of Oviedo and entitled for approximately 1,478 multi-family units, 192,000 square feet of retail facilities and 60,000 square feet of office space.

“PAC Land Development is working diligently with the City of Oviedo to modify the entitlements and phasing, so they can break ground on this project soon,” Hankins said.

“The City of Oviedo is committed to moving the project forward,” Hankins added.

The city is participating in the project with a significant voter-approved contribution to the streetscape and greenscape design and infrastructure, Hankins added.

For more information, contact:

Thomas Hankins, CCIM, SIOR Principal NAI Realvest, 407-875-9989 thankins@realvest.com
Patrick Mahoney, President, NAI Realvest, 407-875-9989, pmahoney@realvest.com;
Beth Payan, Larry Vershel Communications, 407-644-4142  Lvershelco@aol.com

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