About 11,000 acres in St. Johns County sell for $40M

Yulee-based real estate investment trust Rayonier sold the land to Florida Coast Land and Timber LLC

TRD MIAMI /
Feb.February 18, 2018 01:30 PM

St. Johns County, shaded in yellow (Credit: Wikipedia)

Real estate investment trust Rayonier sold about 11,000 acres in northeast Florida for $40 million, and the buyer’s plans for the land are unclear.

The 11,000 acres is a nearly contiguous property in southern St. Johns County, which has potential for greater development, according to Steve Merten, president of the Northeast Florida Division of home building company Toll Brothers.

Rayonier, based in the Yulee community, just north of Jacksonville, sold the land in two closings, the first in December and the second this month.

The buyer is Florida Coast Land and Timber LLC. An agent for the buyer, Jacksonville attorney John Sefton, was unavailable for comment.

The buyer’s offer to buy the land was unsolicited, according to Alejandro Barbero, director of strategic development at Rayonier. He declined to speculate on the buyer’s plans for the land.

Rayonier sold another big piece of land in northeast Florida last year to Florida Power & Light Co. The utility paid the real estate investment trust $13.1 million for 1,311 acres in Nassau County. [St. Augustine Record]Mike Seemuth


Related Articles

arrow_forward_ios

Disney buys 965 acres near its Orlando theme parks and hotels for $23M

Four vacant parcels in Cape Coral hit the market with a $12M asking price

New York-based firm acquires Davie medical building and adjacent land

Rayonier buys 17,808 acres of NE Florida timberland for $24 million

Brunetti family may settle suit over cleanup of former bombing range in Orlando

KA Real Estate buys development site near West Palm Beach

Serena Williams’ lot next to Jupiter golf course under contract

Miami-based fund may have to slash its equity stake in Panhandle land owner

arrow_forward_ios