An expansive 5,633.6-acre farm in eastern Collier County, listed for $59 million, has entered into a contract, though its owners are open to considering backup offers.
The farm, known as Owl Hammock Farm, is prominently located on State Road 29. Marketing materials from SVN Saunders Ralston Dantzler indicate strong interest in this agricultural behemoth. While specifics about the buyer or the offer remain undisclosed, the firm is accepting alternative proposals, maintaining a strategic posture in the current real estate environment.
A significant portion of the land—47.2%—is earmarked for row crops. Meanwhile, unimproved and improved pastures account for 10.4% and 8.7% of the property, respectively. Additionally, 798.9 acres are designated as wetland areas, suggesting potential for conservation initiatives. The zoning largely supports agricultural and rural mixed-use, with a smaller section devoted to urban residential development.
In a different yet related sphere of real estate developments, Lee County has allocated $39.25 million in grants to develop 412 affordable housing units across three communities. This funding, derived from the Community Development Block Grant-Disaster Recovery program, addresses regional housing affordability challenges exacerbated by recent economic dynamics. Projects at Bayshore Pines, Hermosa North Fort Myers II, and Ekos on Evans reflect a strategic investment in housing for low and moderate-income residents, with specific accommodations for seniors and low-income families.
Real estate activity continues to surge across Tampa and Sarasota as evidenced by recent transactions and listings. Notably, a Baltimore-based company, Continental Realty Corp., has procured a 315-unit apartment complex in Tampa, aided by a $52.2 million loan. The acquisition underscores the robust demand for housing in well-planned communities, even as the property boasts a high occupancy rate of 94%.
In Sarasota, a local LLC acquired an office building on Fruitville Road for $1.2 million, marking another significant investment in the region’s commercial real estate sector. Plans are already underway to convert the 4,800-square-foot office space for medical use, reflecting changing demands in commercial property utilization. Sarasota County’s acquisition of the Albritton fruit-farm land further exemplifies strategic moves by local authorities to manage land resources effectively, addressing infrastructure needs in waste management.
In Largo, an intriguing 2.4-acre parcel along Starkey Road is up for sale. Axxos, the commercial real estate firm, emphasizes that while this property isn’t officially listed, it offers considerable potential for multifamily, retail, or office development. Current ownership records and property amenities highlight its viability for future development.
These real estate developments across Florida reflect an evolving landscape characterized by strategic investments, sustainability considerations, and a commitment to addressing housing and infrastructure needs.
Source: Businessobserverfl
