A real estate investor recently bought more than 51 acres on Mt. Misery Road in the northern Brunswick County town of Leland.

Pura Vida Partners LLC sold the property to Wilmington-based firm SKF ILM LLC for $700,000, according to deeds.

The land, which contains a manmade lake, is adjacent to Leland Industrial Park and Leland Plaza and in between the Interstate 140 and U.S. 76/74 off-ramps, according to a news release from Eastern Carolinas Commercial Real Estate.

ECCRE, a Wilmington-headquartered firm, represented the sellers in the transaction.

“This property is and will continue to be a strategic location for residential and multifamily development, in a region that is rapidly growing,” the release stated. 

According to marketing materials, zoning on at least a portion of the property allows up to 299 residential units.

Peter Vinal, owner of Wilmington-based Peter S. Vinal Realty & Associates, represented the buyer in the sale.

Efforts to find out more about the purchase from the buyer were not immediately successful Monday and Tuesday. SKF ILM LLC is managed by Robert Waldon, according to state records.