Florida farmland sells for $15.95 million in Murray Wise Associates auction - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Florida farmland sells for $15.95 million in Murray Wise Associates auction

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SOURCE Murray Wise Associates LLC

INDIANTOWN, Fla., Feb. 27, 2014 /PRNewswire/ -- Approximately 2,620 acres of Martin County, Fla., agricultural land – most of it formerly used for citrus groves – sold for $15.95 million Thursday in an auction managed by Murray Wise Associates LLC in cooperation with Crosby & Associates, Inc.

The auction attracted a capacity crowd of more than 100, including 33 registered bidders, to the Indiantown Civic Center, with bidding that continued well over 90 minutes. The property sold as an entirety to one bidder and brought $6,088 per acre.

"It seemed like we moved pretty quickly until we got past $12 million or so, then it went at a very deliberate pace. One unusual thing is that while bidders could make offers in any combination of tracts, there were only few combinations. It came down to bidders seeking the eight individual tracts and those bidding on the entire 2,620 acres. There weren't many in between," said Joe Bubon, executive vice president of Murray Wise Associates.

The event was the second successful land auction in the area for Murray Wise Associates in recent months.

"Florida has been very good to us. During 2013, we sold approximately 7,377 acres in Florida, as well as packing facilities and other properties, for $48.74 million," said Bubon.

Individuals seeking details may visit www.murraywiseassociates.com or call 800-607-6888.

Murray Wise Associates LLC, with offices in Florida, Illinois and Iowa, is a leading national agricultural real estate marketing and financial advisory firm.

Crosby and Associates, Inc., based in Winter Haven, Fla., with offices in Tavares, Fla., and Hawkinsville, Ga., is a noted provider of agriculture real estate brokerage and management services.

For more information:
Carl Carter, 205-823-3273

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