Taylor Morrison buys land for 1,800-acre Naples Esplanade

BUYER: Taylor Morrison Esplanade Naples LLC (principals: S. Todd Merrill, Louis Steffens, Stephen Wethor, Douglas Miller, John Kempton and Maurice Johnson), Scottsdale, Ariz.
SELLER: IMCollier Joint Venture
PROPERTY: a portion of land roughly between Immokalee Road and the Village Walk of Bonita Springs community, Naples
PRICE: $32 million
LAW FIRM ON DEED: GrayRobinson PA, Tampa

PLANS, DESCRIPTION: Homebuilder Taylor Morrison purchased 1,798 acres of land on Immokalee Road east of Interstate 75 in northern Collier County for $32 million.

The price equated to $17,798 per acre.