Landstar Development Group Inc (OTCMKTS:LSDC) announced that it anticipates to expand growth around the newly opened public golf course. The opening is just the start of a long term growth plan for becoming a known name in the distinguished public golf course. The company partnered on the acquisition of 114 lots boarding on either sides of the public golf course. The ten acres of property offers numerous uses. It can be used as a recreational vehicle resort to a condo styled village with pools and club house.
Contract with Heptagon Seven
In unrelated news, Walter Luce, the Chief Executive of Landstar Development Group Inc (OTCMKTS:LSDC) reported that the company entered into a contract with Heptagon Seven to advance with the important projects that are underway. The company selected the Heptagon Seven after thorough analysis of the companies operating in the senior housing sector. It selected Heptagon due to its association with Otak Corporation. It possesses extensive experience and expertise in the senior housing space. Also, it has contributed considerably in several large scale projects in the west coast.
Landstar confirmed that integrity, creativity and skill have supported Otak’s efforts to transform into an award winning engineering, planning and architecture firm. The company’s strength is its employees who possess a strong background in technology as well as in management. They are well qualified and experienced in their field of expertise. Otak gained recognition on both national and international platform for the mixed-use projects, civil engineering landscape architecture and transit and transportation operations. These factors have encouraged Landstar to contract with Heptagon Seven to move forward with ongoing projects.
The performance Landstar 4Q2014 diluted EPS and revenue jumped 56% and 25%, respectively from 4Q2013. In last trading session, the stock price of Landstar declined more than 4% to close at $0.761 on share volume of 2.55 million.