Aventon Acquires 20 Acres Development Site In Wesley Chapel For $16.25M With Brokers Eric Joseph, Steve Lannon & Lee Arnold

Aventon has acquired a development site in Wesley Chapel, Florida, comprising nearly 20 acres for a total transaction amount of $16,250,000. This asset is set to be developed into a 384-unit apartment community, with construction having commenced in July. The future development will feature amenities such as a pool, fitness center, pet spa, and coworking space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $16,250,000
• Address: State Road 56 & Meadow Pointe Boulevard
• Market: Wesley Chapel, FL
• Buyer's Representative: Eric Joseph - Coldwell Banker NRT
• Seller's Representative: Steve Lannon & Lee Arnold - Colliers
• Acquisition Plans: Development of a 384-unit apartment community
• Leasing Start: Early 2028

This transaction involved key representatives from both sides, with Eric Joseph representing the buyer, Aventon, while Steve Lannon and Lee Arnold represented the seller, Clearwater Bay Associates. Their collaboration facilitated the progression of this significant real estate transaction in the Wesley Chapel market.