HUNTSVILLE — Huntsville has entered the real estate market as a seller.
After annexing properties in and around Limestone and Madison counties, the city has sold surplus property in Limestone County.
Huntsville said it is selling 23.94 acres of city-owned land off Bibb Garrett Road. The sale was approved Thursday by the City Council.
Fennel Noble Family Limited Partnership will purchase the property for the appraised price of $718,000, according to a statement from the city.
The property, which extends from Bibb Garrett Road to the Norfolk Southern Railroad track, is expected to be developed as an industrial park, similar to the nearby SouthPoint Business Park in a phased project that will take several years to complete.
The city anticipates a street ending in a cul-de-sac will bisect the property with buildings on each side.
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