JULY 2017, SALISBURY, MD – SVN | Miller Commercial Real Estate Advisors Wesley Cox, CCIM and Bradley Gillis, CCIM sold 88 townhome lots within The Villages at Parson’s Lake on Parsons Lake Drive in Salisbury, MD. The 9.12 acre property is located in a private setting off of E. Naylor Mill Rd. behind the Centre at Salisbury, an 862,000 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 with approximately one-third of the property completed prior to the downturn in the economy. The property has been sitting idle for over six years until Bradley Gillis listed the property and Wesley 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% 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.
For more information about this transaction or to inquire about available properties on the Eastern Shore, email Wesley Cox at Wesley.firstname.lastname@example.org, Bradley Gillis at Bradley.email@example.com or call 410-543-2440.
SVN-MILLER COMMERCIAL REAL ESTATE
SVN - Miller Commercial Real Estate, with offices in Salisbury, MD, Easton, MD, and Seaford, DE is a financial services firm specializing in commercial real estate. We provide advisory, brokerage, consultation, leasing and asset and property management services to clients in the Mid-Atlantic Region. We combine a comprehensive national footprint with local decision making, expertise and market-leading execution. We maintain an unequivocal commitment to our clients and community (#SVNgivesback).
SVN - Miller is an Accredited Management Organization® (AMO). Our team of dedicated professionals with market-leading knowledge includes a highly-trained staff of Certified Property Managers® (CPM®), Brokers who hold the prestigious Certified Commercial Investment Member (CCIM) designation, and members of the Society of Industrial and Office Realtors (SIOR).