Chatham Park developer snaps up nearly 50 acres in Lee County
By Evan Hoopfer
Staff Writer, Triangle Business Journal
March 28, 2022
One of the developers behind Chatham Park recently turned his gaze southward to Lee County.
1715 Carthage Street LLC – a business addressed to Cary-based Preston Development – purchased about 48 acres in Lee County for $1.9 million, according to a deed filed March 17. The land sits along Carthage Road about five minutes south of downtown Sanford.
The purchase signifies how hot of a housing market Sanford, and Lee County in general, has become. During one Sanford City Council meeting earlier this month, over 1,000 new homes were approved.
Lee & Associates Raleigh-Durham broker Hunter Stewart, MBA represented the seller in the transaction, and Russell Stewart, JD and Moss Withers, SIOR, MBA, represented the buyer.