North Port's Thomas Ranch sells for $86.25M

NORTH PORT — Mattamy Homes has purchased the 9,650-acre Thomas Ranch property from Thomas Enterprises for $86.25 million. Vanguard Land, a Sarasota real estate development and investment firm, will be a minority partner in the property and will provide strategic planning and direction for Thomas Ranch.

The total acquisition price equated to about $10,000 per acre, which included some back taxes paid by the buyer.

Thomas Ranch has more than 6,000 acres in the city of North Port and another 3,650 acres in unincorporated Sarasota County. The site is primarily undeveloped, but has entitlements for more than 11,000 homes and 3 million square feet of commercial development.