A developer's purchase is a term used to describe the acquisition of LAND for development purposes. This typically involves the purchase of a SITE, LAND, ACRE, LOT, TRACT, and LOTS. A SITE is a piece of LAND that has been identified for a specific purpose, such as a building or other structure. LAND is a large area of LAND, usually owned by an individual or organization. An ACRE is a unit of measurement for LAND, equal to 4, 840 square yards or 43, 560 square feet. A LOT is a small parcel of LAND, usually used for residential or commercial purposes. A TRACT is a large area of LAND, usually owned by a single person or organization. LOTS are small parcels of LAND, usually used for residential or commercial purposes.