WASHINGTON, D.C. – February 21, 2014 – (RealEstateRama) — Lee & Associates-North San Diego office has negotiated the $6.15 million sale of 17 land lots, located on Pio Pico Drive in Carlsbad, Calif., to the country’s largest privately-owned homebuilder, Shea Homes.
Matt Weaver, Patrick Miller and Al Apuzzo, all principals with Lee & Associates-North San Diego, represented the seller, Robert Miles Trust, in the transaction, while Shea Homes represented itself.
Shea Homes, which is part of a family-owned company that was established in 1881, is known for developing communities across the country. In California, the homebuilder has several hubs of activity, including the Bay Area, Central Coast, Los Angeles and Ventura, Orange County, Sacramento and San Diego.
“The lots, which were entitled to the Robert Miles Trust prior to the transaction, are situated in an excellent infill coastal location that happens to have a low inventory of prime coastal land sites,” said Weaver. “Shea Homes saw an excellent opportunity for development and plans to build 17 new single family units.”
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 49 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. With a roster of nearly 750 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.