BUYER: Laurel Pinebrook LLC (principal: Michael Collard), Winter Park
SELLER: Princeton Laurel Land Co. LLC
PROPERTY: 2438 Laurel Road E., Venice
PRICE: $1.9 million
LAW FIRM ON DEED: Clark & Albaugh LLP, Winter Park
Winter Park-based retail developer Michael Collard Properties purchased 30.9 acres on Laurel Road for $1.9 million.
The price equated to $61,588 per acre.
The new owner has proposed developing a 68,400-square-foot shopping center on the site called Plaza Venezia. Marketing materials for the center say that extending Pinebrook Road this year north into Honore Avenue will put the new retail center on a major north-south thoroughfare connecting Venice and Sarasota.
The center will be anchored by a 45,600-square-foot Publix grocery store.
The developer did not reply to calls for comment prior to deadline.
Michael Collard Properties develops retail properties built around grocery and department stores and pharmacies.
The purchase entity received a $10.94 million mortgage on the property from Wells Fargo Bank NA.