FOR IMMEDIATE RELEASE(LAKELAND, FL June 15, 2011) – Coldwell Banker Commercial Saunders Real Estate(CBCSRE) in Lakeland, FL, announces the recent sale of 62.77+/- acres located on the NW Corner of County Line Road and Rice Road in Plant City, FL. The CBCSRE licensed real estate sales associate who handled the deal is Rick Rupp, Realtor®.
The property sold for $2,100,000 and was on the market for approximately 10 months. BB&T Bank sold the property to the buyer, Central Florida Development.
Currently an agricultural property, it is approved for industrial use or business park with 950,000 SF of improvements, including allowed office uses. Agricultural uses are permitted in the interim. Prior to the sale, the land was being used for strawberry farming (20+/- acres) and grazing pasture/farm crop acreage (25+/- acres).
The short-term plan for the property is to continue leasing part of the acreage for strawberry production, hay production, and cattle grazing. The 6 single family homes and 3200 SF warehouse building will be used to generate annual lease income.
The long-range plan will be to lease the acreage or lease build-to-suit buildings for various light industrial applications.
About Coldwell Banker Commercial Saunders Real Estate
Coldwell Banker Commercial Saunders Real Estate is regarded as an authority on all types of Florida land, transacting nearly $1 Billion in sales from 1996 to 2010 and over $750 Million in sales from 2004 to 2010. The Saunders team of notable land real estate professionals offers advisory and transactional services through its home office in Lakeland, FL and its network of Coldwell Banker Commercial affiliate offices nationwide and worldwide.
CBC Saunders Real Estate offers a broad range of servicesto meet the real estate needs of landowners. Through long-held relationships with key government and industry decision makers, the firm provides consulting on government issues both locally and on state and national levels to assure maximum return on investments. For more information, please visitwww.saundersrealestate.com.