Lennar Corp., based in Miami, has purchased 38 acres of vacant agriculture land bordering a golf resort near Disney World. Purchased from Magnolia Estates LLC for $7.35 million (just over $193,420 per acre), the land is adjacent to the Orange County National Golf Center. Built in 1997, the 911 acre facility includes three golf courses, a 43-acre practice range, villas and was a joint venture between golfer Phil Ritson, Orange County, and the City of Orlando. The entire area was once dominated by orange groves, but have given way to large home developments.
