New Bastion to buy 757-acre land tract

PANAMA CITY BEACH - New Bastion Development Inc. of Fort Lauderdale, a real estate company that was formed for the purpose of exploiting local real estate opportunities in the Panama City Beach/Marianna area, announced that it had entered into an agreement with a local timber company to purchase a 757-acre tract of land just east of US 231 in Jackson County.

"We believe that Jackson County offers our company a tremendous opportunity," said Elliot Bellen, CEO of New Bastion. "Its magnificent beauty and proximity to the beautiful, white, sandy, Gulf coast beaches of Northwest Florida coupled with the imminent opening of the new Panama City international airport in May 2010 should create tremendous demand in the region for decades to come."