Meritage Homes Purchases 67.9-Acre Parcel in Loganville, GA for $3.4M

    ATLANTA, GA, September 28, 2020 /24-7PressRelease/ -- Representing the estate of a private land owner, the Ackerman/Pioneer Land Advisory Group has sold a 67.9-acre parcel in Loganville, GA to national homebuilder Meritage Homes for $3,437,518 ($50,612 per acre). Meritage Homes purchased the property, called the Meadows at Bay Creek, with plans for development of 152 detached single-family homes.

The Ackerman/Pioneer Land Advisory Group's John Speros, JT Speros and Kyle Gable brokered the sale of the property located at 675 Shannon Road on behalf of the seller, the Estate of Australia Edwards.

"It was very gratifying to complete this land sale on behalf of the seller. We achieved a sale price more than $600,000 above the listing price and the team was able to obtain clear title to 27 acres of additional land discovered during the land title research process," said John Speros. "This allowed the seller to participate in the increased value of the property and Meritage Homes to bring another high-quality residential development to metro Atlanta."

The property's location provides residents convenient access to amenities, including Harbins Park (1,960 acres) and Tribble Mill Park (713 acres) and a variety of shopping options, including Lowe's, The Home Depot, Dick's Sporting Goods, Walmart, Kroger and Publix.

The majority of the property is located in Gwinnett County, which continues to capture a higher number of new single-family housing sales than any county in metro Atlanta.

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 more than 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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