CBRE Tapped To Sell Florida Agricultural Portfolio For MetLife

Jul 21, 2015 No Comments by

CBRE has been selected by MetLife, Inc. as the exclusive listing agent for a 20,523-acre portfolio of Florida agricultural land located in St. Lucie, Indian River and Okeechobee Counties.

The portfolio consists of a mix of pasture, transitioning grove, productive agricultural and game reserve land.

 

“The Florida land market has historically witnessed large run-ups in pricing due to cyclical demands for housing and acquisition of land for conservation,” said Robbie McEwan, First Vice President of CBRE Land Services in Orlando, who is marketing the portfolio along with Preston Hage, Jake Schrimsher and Steve Lehr, Managing Director of the CBRE Land Services Group.

With the housing market experiencing a strong comeback and renewed funding for state land conservation in Florida, this portfolio represents a rare opportunity to purchase a part of Florida’s history. The size and scope of the portfolio and the strength of Florida’s agricultural market is expected to drive considerable buyer interest in the campaign. The properties are located across four separate tracts of land – Cloud Grove, Ginn Ranch, Horizon Ranch and Smith Ranch – within the westward path of development of the Port St. Lucie and Fort Pierce metropolitan area.

Cloud Grove encompasses approximately 7,389 acres located in northwestern St. Lucie County and southwestern Indian River County and is currently used for cattle grazing. Ginn Ranch is located in central St. Lucie County and consists of 3,745 acres of pasture land and five acres of commercial land. Horizon Ranch consists of 616 acres of land fronting Interstate 95 in St. Lucie County, a portion of which is within the county’s Urban Service Boundary.

Smith Ranch includes approximately 8,786 acres located in western St. Lucie and eastern Okeechobee Counties and consists of pasture land and a game reserve with extensive onsite improvements including shell rock roads and high fencing.

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