Martin County closes on River Cove parcel on Indian River

Comerica Bank sold its 4.7 acre “River Cove” Parcel to Martin County for $900,000. The parcel contains 3.3 acres of upland plus 1.4 acres of submerged land. Comerica and its Broker, Boyd G. Bradfield, Jr., President of NAI Southcoast, were under a great deal of pressure from three buyers who wanted the property for restaurant use. However, Comerica’s Vice President, John Regan, flew in from Detroit to visit the site and envisioned the property being purchased for public use. He resisted the advances from all three buyers and stayed the course with the process necessary to deal with the County. The purchase had a great deal of public support including the Florida Oceanographic Society, Environmental Studies Center, the Treasured Land Foundation and many members of the community. Martin County Commissioners could also see the vision and voted to purchase the property for residents and visitors to enjoy.