DAYTONA BEACH — Consolidated-Tomoka Land Co. recently sold a retail building in Lakeland for $2.7 million, according to real estate agent John Artope of SRS Real Estate Partner, who represented Daytona Beach-based Indigo Development, Consolidated’s real estate arm, in the sale.
The 18,260-square-foot free-standing building at 4136 Highway 98 sits on a two-acre out parcel to the Lakeland Square Mall. The building was constructed in 1994 and was home to a Barnes and Noble until the retail bookstore closed in February 2011 when its 15-year lease expired.
The building buyer was The Ferber Company, located in Ponte Vedra Beach, and doing business as 2011 Sleepy Hill Associates LLC.
Consolidated-Tomoka Land Co. is a public Daytona Beach-based land development and management company. It primarily sells agricultural land and invests the proceeds in income-producing retail property. The Lakeland property was one of about 26 retail properties the company owns in Florida, Georgia and North Carolina, including the Barnes and Noble in Daytona Beach.