Benderson Development has recently acquired the Monarch Ranch, a 3,400-acre industrial development site located in Sumter County. The property was purchased for $40 million and will be developed jointly with The Villages, a census-designated place spanning both Sumter and Marion Counties. This acquisition comes as a result of court-ordered sale due to the seller’s legal and financial difficulties.
The Monarch Ranch is one of the largest vacant land sites within an hour’s drive from two rapidly growing metropolitan areas – Orlando and Tampa Central Business Districts. A team led by Michael Fay from Avison Young marketed and sold this property on behalf of the seller who was appointed by the court for this purpose. According to Fay, their expertise in handling complex court-appointed disposition deals along with unique land development sales across Florida played a crucial role in securing this deal.
Currently zoned for agriculture use between Wildwood and Coleman cities in Sumter County, it is expected that Monarch Ranch will continue its agricultural activities until there are favorable financial conditions to develop it into an industrial park.
