NAI Realvest / Charles Wayne Commercial Completes sale of 13.19 Acres, Part of Assemblage for New Single-Family Community, with Medical and Retail Space
DELAND – Steve Costa, principal with NAI Realvest | Charles Wayne Commercial, recently negotiated the sale of a 13.10-acre DeLand parcel at the intersection of West Plymouth and Adelle Avenues to an Orlando company for $694,548.00.
Costa, who represented the Tampa-based sellers Michael A. Dougherty and Marshall H. Dougherty, Jr., d/b/a Volusia Oaks said the property – near DeLand’s medical district – is part of an assemblage that will become a community called Lincoln Oaks with 60+ homesites and with medical office and retail space.
The buyer, Adelle at 4092 LLC, was represented by Mason Urbanski of Incite Commercial in Orlando. The property is being developed by Owais Khanani, managing partner of Elevation Development, LLC.
Lincoln Oaks has also been approved for 40,000 square feet of medical office and medical related space which may also include assisted living facility, Khanani said.
The commercial portion of the project is expected to be completed within the next 12 months, he added.
Costa and the NAI Realvest | Charles Wayne Commercial team are currently marketing the medical and medical related space for lease.