Florida-based Alico Inc. announced that its wholly owned subsidiary, Agri-Insurance Company Ltd., entered into a contract to sell 53 additional acres in Lee County, Fla. to The Ginn Company. The contract sales price is $10.6 million.
The property is located on the south side of Alico Road across from the planned Florida Gulf Coast Technology & Research Park.
The company also announced an amendment to The Ginn Company’s original contract adding 555 acres and bringing the total acreage in that contract to 5,139 acres. The additional acreage includes 500 acres on the north side of Alico Road adjacent to the land currently owned by the FGCU Foundation and 55 acres on the south side of Alico Road. The contract price of this additional acreage is $13.32 million. The property included in the contract amendment is part of the redevelopment master plan announced by The Ginn Company in August.
Alico Inc. is an agribusiness company primarily engaged in the production of citrus, cattle, sugarcane, sod and forest products.
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