My guess is the supposed 'new owner' backed out, because he just could not get financing to build anything new. In fact, NO ONE can get financing to build anything new, let alnoe get financing to buy something old. Unless he just happened to have all the cash to buy it as a cash sale, which I highly doubt. To buy the property, which is a huge piece of property, and then deal with property taxes and supposedly tearing the place down and putting up a shopping center in the worst economnic downturn Florida has ever seen? Too many negatives on this thing, and horrendous timing. Right now, the overwhelming majority of business owners and home owners are stuck right where they are. No financing for anyone of major value is happening. I just don't think people truly know how terrible the economy is right now.
