Jacksonville-based Gatlin Development Co. bought a 32.176-acre site in St. Augustine that will be used for a multifamily development.
It is at southeast Florida 16 and Four Mile Road, west of Shoppes at Mission Trace, which is anchored by a Publix Super Market.
Gatlin bought the property Jan. 15 through HWY 16A Apartments LLC for $8.5 million.
The seller was The Ferber Co., through 2020 SJP Jax LLC. Institutional Property Advisors represented Ferber, which is based in Ponte Vedra Beach.
County planning and zoning records indicate the property will be used for a multifamily development.
Gatlin is the developer of the Grand Cypress apartments in St. Johns County.