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Monday, July 13, 2009

WBS Properties purchases Grand Oaks development

PALM BEACH - WBS Properties which is a subsidiary of Estates of Grand Oaks LLC has just closed on the 40-acre lakefront development of Grand Oaks, in Avon Park. Avon Park is approximately 122 miles, north west of NNN Palm Beach headquarters.
This gated community consists of 127 finished lots, according to a press release from the company. Also, there are 25 premium lakefront lots which have unobstructed views of the 280-acre Lake Damon. The 100 other lots are located on well landscaped and buffered cul-de-sac streets.
The purchase price was noted to be $1.4 million.
The new owners, Estates of Grand Oaks LLC, are very seasoned Commercial Real Estate owners and developers, throughout the southeast. Currently the company owns the shopping center in Avon Park where a great Publix is located.
The new owners were represented by Steven Aberman of Brookside Realty Corp., in this transaction. The sellers were represented by Chip Boring of RE/MAX.
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