Neal Land Ventures buys nearly 100 acres of Venice

BUYER: Border Road Investments LLC (principals: Mark Caithness and John Neal), Sarasota
SELLER: Caithness Construction LLC
PROPERTY: a portion of Border Road east of North Jackson Road, Venice
PRICE: $1.35 million
PREVIOUS PRICE: $2.41 million, January 2006
LAW FIRM ON DEED: Icard Merrill Cullis Timm Furen & Ginsburg PA, Bradenton

PLANS, DESCRIPTION: Neal Land Ventures purchased 99.36 acres on Boarder Road west of Sleeping Turtles Preserve North for $1.35 million.

The price equated to $13,587 per acre.

The real estate acquisition company, led by John Neal, acquires land to develop as residential communities. It eventually sells off lots to homebuilders, including Neal Communities of Southwest Florida LLC and John Neal Homes. According to John Neal, the property north of Interstate 75 will eventually become a Neal Communities property.

“We started looking at land in the city of Venice and liked that area,” Neal says. “We felt like we could bring a nice upscale Neal Communities development there. We are talking to engineers to develop a community to suit the area.”