March 12, 2019
LGI Homes Purchases 243.6-Acre Parcel in Locust Grove, Ga., for $4.2M
Ackerman & Co. and Pioneer Land Group represent seller of residential property planned
for 379 detached single-family homes
ATLANTA, March 12, 2018 – The Ackerman/Pioneer Land Advisory Group represented Bunn Family LLC in the sale of a 243.6-acre residential land parcel in Locust Grove, Ga., for $4,227,188 ($17,350 per acre). Texas-based LGI Homes purchased the property with plans to develop 379 detached single-family homes.
The Ackerman/Pioneer Land Advisory Group’s John Speros, JT Speros and Kyle Gable brokered the sale.
“As the fastest-growing city in Henry County, Locust Grove is an excellent location for single-family residential development,” said John Speros. “This parcel offers LGI Homes the opportunity to deliver homes at under $300,000 per unit, which is the highest-demand housing segment.”
The parcel is approximately three miles east of Interstate 75, about 40 miles south of the city of Atlanta. The property’s location offers easy access to a wide array of retail, including nearby Tanger Outlets, which features 71 stores.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired 35 million square feet of office, medical, industrial, retail and mixed-use space, has 8 million square feet under management, and maintains an investment portfolio valued at $1 billion. For more information, visit www.ackermanco.com