Firm sells town­home lots in Sal­is­bury

Sunday Star - - BUSINESS -

— SVN | Miller Com­mer­cial Real Es­tate Ad­vi­sors Wes­ley Cox and Bradley Gil­lis have sold 88 town­home lots within The Vil­lages at Par­son’s Lake on Par­sons Lake Drive in Sal­is­bury. The 9.12 acre prop­erty is lo­cated in a pri­vate set­ting off of East Nay­lor Mill Road be­hind the Cen­tre at Sal­is­bury, an 862,000-square-foot SF re­gional mall. Bradley Gil­lis was the list­ing agent and Wes­ley Cox rep­re­sented the buyer.

The prop­erty was orig­i­nally de­vel­oped in 2006 as town­homes for pur­chase by a lo­cal builder and de­vel­oper. Ap­prox­i­mately one-third of the prop­erty was com­pleted prior to the down­turn in the economy. The prop­erty has been sit­ting idle for more than six years un­til Gil­lis listed the prop­erty and Cox se­cured a buyer. It took 16 months to com­plete the trans­ac­tion af­ter go­ing through var­i­ous ap­provals to bring the project up to to­day’s de­vel­op­ment stan­dards.

The pur­chaser, In­sight Homes, plans to start con­struc­tion im­me­di­ately and will of­fer the first prod­uct of its kind on the lower East­ern Shore. In early 2018, high en­ergy ef­fi­cient “green” town­homes will be avail­able for rent, sav­ing res­i­dents hun­dreds of dol­lars a year.

In­sight Homes is in the top 1 per­cent na­tion­wide for en­ergy ef­fi­ciency and have won mul­ti­ple na­tional awards for their en­ergy ef­fi­cient and low cost of liv­ing homes.

This is the second prop­erty in Wi­comico County that Wes­ley Cox has sold to In­sight Homes in 2017. In March, Cox sold 22 lots in Sas­safras Mead­ows to the de­vel­oper, which will of­fer new sin­gle-fam­ily high en­ergy ef­fi­cient “green” homes for sale be­low $200,000.

CON­TRIB­UTED

SVN has sold 88 town­home lots in the Vil­lage at Par­son’s Lake. The site was about one-third de­vel­oped when the economy turned down.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.