February 11, 2020
Marcus & Millichap has brokered the $1.9 million sale of a nearly 18-acre development site in Panama City Beach.
The property, Panama City Beach Residential Land, is located at 2204 Thomas Dr., and is permitted for 186 multifamily residential units. The site, which is located two miles from the beach, has a development order and wetland resource permit in place.
Paul Bouldin and Christopher Burnham of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer, a developer limited liability company, was secured by Reese Abee of Marcus & Millichap.
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