DIX Developments Sells 17 Acres to CORTA for Lecanto Retail Expansion
Deal News | Jan 16, 2025 | EIN
DIX Developments has successfully sold 17 acres of prime commercial land to CORTA Developments, marking a significant development in Lecanto, Citrus County, Florida. This sale is part of a larger premier retail project known as The Shoppes at Black Diamond, strategically positioned near major retail giants and a burgeoning new community. CORTA’s expansion in Lecanto is set to enhance their existing portfolio, starting with a compelling lineup of retailers such as PetSmart, Hobby Lobby, and others already in CORTA Commons. The expected completion of this new development is set for early 2026. The collaboration between DIX Developments and CORTA Developments reflects a strategic investment in the rapidly-growing Central Ridge area, promising to attract local and regional visitors. The entire deal involved collaboration with various industry professionals and was facilitated by companies such as Piegon Adurra, Retail Property Advisors, and Gulf to Lakes Real Estate Inc. DIX Developments, headquartered in Lake Mary, Florida, is renowned for its expansive residential and commercial projects across Central Florida, continuously contributing to the area's development efforts.
Sectors
- Real Estate Development
- Retail
Geography
- United States – The transaction and future development take place in Lecanto, Citrus County, Florida, part of the United States.
- Florida – Specifically, the article focuses on a real estate development in Lecanto, a rapidly growing area in Central Florida.
Industry
- Real Estate Development – The article revolves around the sale and acquisition of land for the development of commercial real estate projects.
- Retail – The development project involves setting up a retail complex including various retail brands and services.
Financials
- – The article does not provide specific financial figures regarding the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DIX Developments | Selling Company (Vendor) | Company | A premier real estate development company based in Lake Mary, Florida, known for its large-scale residential and commercial property projects. |
| CORTA Developments | Buying Company (Bidding Buyer) | Company | A company involved in real estate development, acquiring land to expand its portfolio with a focus on retail and commercial properties. |
| Piegon Adurra | Legal/Advisory | Company | Involved in facilitating the transaction, likely providing legal or advisory support. |
| Retail Property Advisors | Advisory | Company | Assisted in the transaction between DIX Developments and CORTA Developments. |
| Gulf to Lakes Real Estate Inc. | Broker | Company | Broker involved in facilitating the transaction of the land sale. |