Indian Creek hits market for S60 million
By Kevin McQuaid Commercial Real Estate Editor - Friday, September 16, 2016
A nearly 1940-acre parcel of vacant land east of Interstate 75 in Sarasota County has come to the market with a hefty asking price of $60 million.Indian Creek, a property whose access to highways and existing subdivisions is expected to be greatly enhanced when extensions to Lorraine Road are completed in the coming years, is roughly eight miles east of the Interstate, on Fruitville Road.
Dennis Dahm, a commercial real estate agent with Michael Saunders & Co. who is marketing the property on behalf of Sarasota-based investors Indian Creek Investments and BDR Investments, says the land is unique in many respects.
“It’s one cohesive piece.” says Dahm. "It's one of the last major tracts out there, and the feeling is now is the best time to bring it to market for sale with all that's going on with the comprehensive land use plan.”
The sales price reflects a rezoning that has yet to be applied for, Dahm says. He plans to pitch the property to major homebuilders or long-term residential developers interested in creating a ground-up community.
Over the next 50 years, Florida’s swelling population is expected to gobble up another 15 percent — or 5 million acres — of the state’s disappearing farms, forests and unprotected green space, according to a new study released Thursday.
With the population expected to reach nearly 34 million by 2070, University of Florida researchers partnered with 1000 Friends of Florida and the state Department of Agriculture to look at growth trends and urban sprawl in a state powered by land booms. What they found was startling: In Central Florida, where the population is expected to surge along the I-4 corridor, half the region will be developed if no more land is protected. Agriculture and other green spaces shrink by nearly 2.4 million acres. That could dramatically increase the flow of urban pollution into Lake Okeechobee.