Jeff Cusson, CCIM Sells St. Lucie County Citrus Grove for $29.1 Million
Industry: Real Estate
Lakeland, Florida (PRUnderground) May 9th, 2019
Jeff Cusson, CCIM, Sales Associate at Saunders Real Estate, recently brokered the sale of a 3,641 ± citrus property for $29,134,905. Located in Fort Pierce, the well-maintained and profitable grove stands out in an industry struggling with the effects of greening disease.
“We often times get the phone call when groves are no longer profitable and at the point where most or all of the trees require replanting,” Cusson said. “It was an enjoyable process to evaluate and work with a grove that remains well maintained and profitable, and a pleasure to help in bringing two friends and customers together on terms that meet both their individual objectives.”
In conjunction with this property, Cusson listed and sold the adjacent 297 ± acre grapefruit-producing grove in St. Lucie County for $2,115,095. He was engaged to discreetly market and to assist with negotiating a fair value for the sale of both properties.
There is a continued shift happening in the makeup of the citrus industry. The effects of the Citrus Greening disease are a decline in the health of trees and reduced production. Citrus groves with ample production continue to be profitable. However, citrus farming requires significant commitment and resources to successfuly replant unhealthy groves and maintain profitable levels of production.
“Just like our individual investment accounts, many citrus families have made the choice to diversify their investments by reducing their citrus holdings and balancing them with other opportunities in order to balance their risks and generate more consistent returns,” Cusson said. “Others see this as a window of opportunity and are taking advantage of the chance to expand their citrus holdings.”
Cusson specializes in agricultural, transition, industrial, and general commercial real estate properties. Learn more about his experience and industry leadership at sreland.com/jeffcusson.
About Saunders Real Estate
Saunders Real Estate is regarded as an authority on all types of Florida land and conservation easements, transacting over $2.4 billion in sales since 1996. Offering land, forestry, and conservation easement real estate services through Saunders Real Estate and the Saunders Real Estate Forestry Group, the Saunders team of land professionals offers advisory and transactional services through their home office in Lakeland, FL, the North Florida office in Lake City, FL, and the South Georgia office in Thomasville, GA. We provide services to land and commercial clients through both SRE and our commercial real estate brokerage, Saunders Ralston Dantzler Realty.