Polk County $1.4 MIL Land Sale Jump-starts the Year with 115 +/- Acres Sold Near Lake Wales

Coldwell Banker Commercial Saunders Real Estate Sales Associate, David Hitchcock, announces the closing of 115 +/- acres of land near Lake Wales in Polk County. The property is a producing Valencia grove located on SR 60, west of Lake Wales.

Morrison Partnership and the Bryan Paul Family Limited Partnership sold the property to Brent and Betsy Monk for $1,450,000. The closing was in January 2010. Hitchcock represented the seller and Harmon Realty of Winter Haven represented the buyer.

The property has been the topic of discussion with the City officials of Lake Wales regarding a potential Industrial Land Use with annexation. This will allow the property use to expand to industrial and residential uses for future development. City water and sewer are planned for the area. The property is near the Pollard Road entrance to the new CSX Integrated Logistics Center.

At a time when real estate in general and land transactions in particular have been sluggish, Hitchcock acknowledges that the land market for large acreage is slowly becoming more active. Hitchcock continues, “We are seeing more activity right now as the year starts and look to a better year this year for land sales.” Since January 1, 2010, CBCSRE has transacted six leases and six land properties for a total of nearly 1200 acres to start the year with over $7 MIL in closings. Of those, four closings were attributed to Hitchcock.