D.R. Horton Acquires Development Site In Charlotte, NC For $4.18M

A development site consisting of 30 developed lots located at 7641 Thorn Bluff Road in Charlotte, NC, has been sold in a transaction. The buyer in this deal was D.R. Horton, a well-known residential construction company. The seller, Northway Homes, was represented by Cyrus Mojdehi. The broker involved in the transaction was Jay Royster from Royster Commercial Real Estate. The sale price for this property was $4,180,000. The total square footage of the development site is 320,297. The price per lot (PPL) for this transaction was $139,000.

Summary of transaction details

• Property Type: Development Site (30 Developed Lots)
• Transaction Amount: $4,180,000
• Address: 7641 Thorn Bluff Road, Charlotte, NC
• Market: Charlotte, NC
• Buyer: D.R. Horton
• Seller: Northway Homes - Cyrus Mojdehi
• Broker: Jay Royster - Royster Commercial Real Estate
• Square Footage: 320,297
• Price per Lot (PPL): $139,000

This transaction showcases the involvement of key individuals and companies in the real estate industry. D.R. Horton, a renowned residential construction company, successfully acquired the development site. The seller, Northway Homes, was represented by Cyrus Mojdehi, while Jay Royster from Royster Commercial Real Estate acted as the broker for this deal.