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PALM COAST, FLA. — Colbert Lane LLC of Ormond Beach, Fla., has sold a 46-acre tract of land to Coral Gables, Fla.-based Gold Royal Asset for $4 million. The acreage, located on Colbert Lane in Palm Coast, is fully entitled and ready for more than 300,000 square feet of mixed-use development. This sale was the first part of a workout that includes an additional 32 acres. NAI Realvest's Chris Butera and Paul Partyka represented the seller.