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51-acre parcel fronting Lake Bryan and S. I-Drive sells for $12.9M

51 acres to the east of Big Lake Bryan with frontage on S. International Drive sold this week for $12.9 million.
51 acres to the east of Big Lake Bryan with frontage on S. International Drive sold this week for $12.9 million. (Orange County Property Appraiser)

A 51-acre undeveloped parcel boasting 1,700 feet of frontage on S. International Drive and 1,500 feet on Big Lake Bryan sold Wednesday for $12.9 million and features PD-zoning approval for hotel, timeshare, apartment and commercial use.

The property was bought by Porto Orlando LLC, a Florida company created Aug. 11 and registered at the Miami address of Baker & Mackenzie, a law firm specialized in advising foreign clients on conducting business or investing in the United States.

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That LLC's lone authorized agent is Sam Marzouk of Herndon, Va. Marzouk did not return calls or e-mails for comment on Thursday. Neighbors contacted by GrowthSpotter said Marzouk was out of the country, and that he works with an Egyptian hotel company.

More than 200 additional undeveloped acres surround the newly sold parcel with frontage on Big Lake Bryan, a spring-fed lake that attracts water sports enthusiasts. The lake is already bordered by three resorts on its west side.

Nicholas A. Pope, attorney with Lowndes, Drosdick, Doster, Kantor & Reed, was listed as the selling entity, by way of serving as successor under a land trust agreement that dates back to 1995. Pope did not return calls for comment.

The property lies just a mile east of Walt Disney World, and two miles south of Orlando Vineland Premium Outlets.

Orlando CBRE brokers Robert McEwan and Preston Hage served as listing brokers for the seller. A CBRE spokesman declined to comment on the deal.

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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