A Jacksonville-based investment group purchased 8.8 acres of vacant land in St. Johns County off Florida 207 just east of Interstate 95 for $6.5 million, according to county records.
The area is west of the Florida National Guard armory and St. Augustine RV Resort.
O’Steen Investment Group LLC, through OAG207 LLC, bought the property Feb. 9. The seller was A.H.K. LLLP and St. Augustine Marketplace Association Inc., which are owned and managed by developer John Alexon.
The sale included a 1.15-acre parcel at 2525 Florida 207 and portions of four nearby parcels.
A.H.K. LLLP owned a total of 46.13 acres in the area.
O’Steen Investment Group, whose affiliates include O’Steen Real Estate Investments LLC, O’Steen Automotive Group LLC and O’Steen Automotive Group of Georgia LLC.
Chip O’Steen is the president and co-owner of O’Steen Automotive Group and affiliated with O’Steen Investment Group.
In an email, he said that in addition to the expansion in Saint Johns, O’Steen Auto Group is currently under construction in service shops with service bays at its O’Steen Volvo Cars of Jacksonville and O’Steen Volkswagen locations in Jacksonville.