Jon D. Walls, RLA, MiCP, NAI Realvest’s Development Services Director and Sales Associate, represented the seller, Indigo Groveland, LLC, a German banking institution, in the sale of a 158-acre lakefront property located on Villa City Road, in Groveland, Florida. The property was previously the site of a luxury home known locally as the Groveland Mansion, an 18,000 square foot home built in 1997. The mansion was demolished in 2018 to allow for the sale and redevelopment of the property. The 158-acre property sold for $3,500,000.
The buyers, Sovereign Land Co., and Loma Land, put the property under contract and designed a master plan based upon the new Groveland Village Land Use, which is a mixed-use zoning with a variety of housing types and commercial use. The new community, Cypress Bluff, will be built out by a national home builder. The master planners for the new community were Stringfellow Planning of Orlando.