Morgan Property Group, LLC is pleased to announce the sale of the residential portion of its mixed-use project at the southwest corner of Ocoee Apopka Road & Ocoee Crown Point in Ocoee, Florida to Pulte Homes.
MPG, through its affiliate Ocoee Land Trust, acquired just over 20 acres in October 2013 and developed a new masterplan which included both residential and commercial uses. On November 16, 2015, MPG sold approximately 10 acres of the land to Pulte Home Corporation for a price of $1,320,000. The residential tract will be developed to include forty four single family home units.
This mixed-use development project is located across from the Westyn Bay community, just east of Ocoee High School and caddy corner to a Publix anchored shopping center. There are approximately 1,400 residential units currently under construction or approved for development within a half mile radius.
Andy Bassler of Central Florida Land Brokers and Greg Woulfe of Morgan Real Estate, Inc. represented the Seller, and Bill Tew represented the Purchaser in the transaction.
“We could not be more pleased to see our vision for this property come to fruition,” said Trey Morgan, President of MPG. “We expect the Pulte project will do nothing but enhance the commercial portion of our project, as well as the community at large.”
Pulte Homes will offer single-family homes ranging in size from 1,900-3,100+ square feet. For more information on this community please call 877-768-8819 or visit pulte.com/crownpointecove.
For leasing or sale information regarding the retail outparcels, please call Greg Woulfe of Morgan Property Group at 704-909-4500.
PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America’s largest homebuilding companies with operations in approximately 50 markets throughout the country. Through its brand portfolio that includes Centex, Pulte Homes, Del Webb and DiVosta Homes, the Company is one of the industry’s most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup conducts extensive research to provide homebuyers with innovative solutions and consumer inspired homes and communities to make lives better. For more information about PulteGroup, Inc. and PulteGroup brands, go to www.pultegroupinc.com; www.pulte.com; www.centex.com; www.delwebb.com and www.divosta.com.
For over thirty-eight years, Morgan Property Group has been in the commercial real estate development and brokerage business. MPG focuses on neighborhood shopping centers, multi-tenant buildings, and single-tenant projects anchored by a variety of national and regional retailers. The company and its affiliates are developing multiple retail, mixed use, and urgent care medical projects throughout the Mid-Atlantic and Southeast. To find out more, follow Morgan Property Group on Facebook and Twitter @MPG_Development or visit our website at www.morganpg.com.