CLAYTON - Four years, one lawsuit and $4.75 million later, Home Depot has finally closed on its purchase of 12.39 acres for a store in Rabun County, according to Norton Native Intelligence Marketwatch.
Previously, Home Depot had outlined plans to build a 132,874-square-foot store in Clayton wiht a projected employment of about 100 fulltime workers and 50 parttime.
Home Depot entered an agreement in October 2002 for the purchase of 18.53 acres for $3.25 million, or just over $175,000 per acre. Two years later it filed a breach of contract suit against the owner which was recently settled.
The final purchase price comes to about $380,000 per acre, more than twice the original contract terms.
Tuesday
May 21st, 2024
11:32AM
