Vanguard Land-led group buys Venice land for future

BUYER: Laurel Road Property LLC, Sarasota
SELLER: OB Waterford LLC
PROPERTY: a portion of Laurel Road at the northeast corner of its intersection with Knights Trail Road, Venice
PRICE: $5 million
PREVIOUS PRICE: $21 million, September 2005
LAW FIRM ON DEED: Shumaker Loop & Kendrick LLP, Sarasota

PLANS, DESCRIPTION:
An investor group led by John Peshkin of the Sarasota-based residential real estate investment firm Vanguard Land LLC purchased 50.68 acres east of Interstate 75 on Laurel Road for $5 million.

The price equated to $98,658 per acre.