Neal Communities buys land for 100-home Estero Place

BUYER: Neal Communities of Southwest Florida LLC, Sarasota
SELLER: OB Florida CRE Holdings LLC
PROPERTY: southwest corner of Corkscrew Road and Three Oaks Boulevard, Estero
PRICE: $3.03 million
LAW FIRM ON DEED: Adams and Reese LLP, Sarasota

PLANS, DESCRIPTION: Lakewood Ranch-based homebuilder Neal Communities Inc. continued its expansion into Southwest Florida with the purchase of 53 acres in Estero for $3.03 million.

The price equated to $57,075 per acre.