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Commercial Real Estate
Business Observer Friday, May 11, 2018 6 months ago

Large Collier County tract coming to market for sale

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HHH Ranch property haad been assembled over years
by: Kevin McQuaid Commercial Real Estate Editor

HHH Investments Ltd. Partnership, an entity controlled by Naples physician Francis Hussey and his wife, Mary Pat, are selling a more than 900-acre tract in Collier County.

At 956.3 acres, the HHH Ranch property becomes the largest vacant land site to hit the market in the county since 2016, when a 2,576-acre property was offered for sale. A group led by Palm Beach billionaire Jeff Greene eventually spent $38.5 million for that North Naples site.

The largest Southwest Florida land sale in recent years occurred in December of 2017, when Lee County acquired a more than 4,000-acre tract for conservation. The Edison Farms site in Bonita Springs sold for $42.4 million.

Randy Thibaut, the owner and CEO of commercial real estate brokerage Land Solutions Inc., which has been hired by the Husseys to market the property, says the cattle ranch land was assembled over several decades.

County zoning allows for a number of uses on the property, including mining and residential development of one unit per 10 acres. Roughly 55 million tons of rock and sand have been identified underlying the land.

“It’s unique in that it has a Naples address,” Thibaut says. “There’s an opportunity there for mining, residential development or eco-tourism.”

He adds the firm is entertaining buyer offers now — no price has been fixed for the 3590 Blackburn Road site — and hopes to select a buyer within 60 days for a scheduled summer closing.

The property, which fronts Interstate 75, is roughly 10 miles away from the Naples Municipal Airport and 12 miles from Collier County beaches, according to a Land Solutions’ sales brochure.

 

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