The Real Deal Miami

$128M agricultural land deal closes in Palm Beach County

Sale is one of the most expensive in South Florida in the past year

September 30, 2014 03:00PM

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A sugarcane farm in South Florida

A sugarcane farm in South Florida

Major Palm Beach County landowners traded 51 tracts of agricultural land in a deal worth about $128 million.

Three Sams and its partner, Triple S Holdings, sold the parcels to U.S. Sugar Corp. in separate transactions, according to the Daily Business Review.

The largest deal was for $91.35 million for a vast tract along State Road 80, Browns Farm Road, Northwest Ninth Street and Atlantic Sugar Mill Road in the Gladeview Farms area near Belle Glade in unincorporated Palm Beach County.

The second transaction with U.S. Sugar Corp. was for $37.17 million.

“You had the right buyer for a huge parcel,” said Kevin McCarthy, senior vice president of Colliers South Florida. “That’s the beauty of the industry when things come together like this.” [Daily Business Review]Christopher Cameron

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