Ackerman & Co. and Pioneer Land Group broker sale of 23.73 acres for 246-unit multifamily development and 57 acres for 293 townhomes.
ATLANTA, GA, November 18, 2021 /24-7PressRelease/ — The Ackerman/Pioneer Land Advisory Group has completed the sale of two residential land parcels in Gwinnett County: 23.73 acres at 1100 Beaver Ruin Road in Norcross, GA and 57 acres at 2889 Gravel Springs Road in Buford, GA for a total of $10.68 million.
Oxford Properties LLC purchased the Beaver Ruin Road property from H.S. Randall with plans to develop a 246-unit multifamily community and Revive Land Group LLC purchased the Gravel Springs Road property from Larry G. Brown with plans to build 293 townhomes.
The Ackerman/Pioneer Land Advisory Group’s John Speros, JT Speros and Kyle Gable brokered the sale of the properties on behalf of the sellers.
“Gwinnett County is experiencing the highest volumes of single-family home sales in metro Atlanta. At the same time, there is very limited availability of vacant developed lots,” said John Speros, Senior Vice President for Ackerman & Co. “The fast-growing population and the continued strong demand for both single-family and multifamily units in the county combined with the scarcity of available land resulted in strong buyer interest in these land parcels.”
The Oxford Properties apartments will rise at the intersection of Beaver Ruin Road and Phil Niekro Parkway, a location providing convenient access to Interstate 85 less than two miles away. The company has developed and constructed nearly 8,000 multifamily units in East Coast markets since 2002.
The Revive Land Group townhomes at 2889 Gravel Springs Road will add to the single-family housing stock in Gwinnett County, one of the most sought-after markets for Atlanta homebuilders. Located one mile from the Mall of Georgia, the development will provide residents easy access to the mall’s 200 stores and an abundance of additional surrounding retail and restaurants. Founded in 2018 by Managing Partner Neville Allison, Revive and its partners currently manage over $1.5 billion of real estate assets throughout the United States.
The Ackerman/Pioneer Land Advisory Group has represented numerous owners in land sales for prominent housing and commercial real estate developments, brokering more than $400 million in property sales across the Southeast.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of 100 real estate professionals. To date, Ackerman & Co. has developed and acquired 37 million square feet of office, medical, industrial, retail and mixed-use space, has 4.5 million square feet under management, and maintains an investment portfolio valued at $1 billion. For more information, visit www.ackermanco.com
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