Real estate brokerage Avison Young represented the seller of 1,107 undeveloped acres in Okeechobee for $5.3 million.
Avison Young principals Gary Gottlieb and Keith O’Donnell represented the seller, Dry Lake Properties, LLC, in its $5.3 million transaction with the buyer, Mission Farms of Wellington, Inc.
The 1,107-acre parcel known as Hudson Lakes had been the largest piece of land listed for sale in Okeechobee County. It is located at 6900 Highway 98 in Okeechobee.
Previous development plans for the property included a proposed master-planned community with nearly 3,000 residential units, an assisted living facility, a recreational area and commercial town center.
However, the new owner of Hudson Lakes plans to use the land to raise cattle.
“Land acquisitions for agricultural purposes have become more prevalent,” Gottlieb said in a press release. “Okeechobee County has experienced a resurgence in interest from the agricultural sector, especially from the cattle industry.”