WBS Properties subsidiary purchases Grand Oaks development

WBS Properties of Boca Raton has just closed on the 40-acre lakefront development of Grand Oaks in Avon Park.

The turnkey gated community consists of 127 finished lots, according to a press release from the company. The 25 premium lakefront lots have unobstructed views of 280-acre Lake Damon. The 100 other lots are located on well landscaped and buffered cul-de-sac streets.

The purchase price is $1.4 million.

"It's a great opportunity at the right price," said Steven Aberman, senior acquisition/leasing manager for WBS Properties. "We look at it as a value."

The new owners, Estates of Grand Oaks LLC, are seasoned commercial owners and developers throughout the southeast.

The community offers residents a great mix of amenities that include a state-of-the-art pool, cabana house and covered barbecue area. The complex also has a boat launch area with five separate boat slips.

The new owners were represented by Aberman of Brookside Realty Corp., which is also a subsidiary of WBS, and the sellers were represented by Chip Boring of RE/MAX Realty Plus in Sebring.

WBS is a privately held real estate investment firm, according to its Web site. Its principal business is the acquisition and development of neighborhood shopping centers, industrial warehouses, apartment complexes and office buildings.

The company owns the shopping center in Avon Park where Publix had been located.

WBS, through its subsidiaries, currently owns several hardware stores and has extensive land holdings throughout Florida.