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News release


JLL Closes $86M Sale of Property in Sarasota County

Development site of nearly 10,000 acres presents rare investment opportunity

TAMPA, Fla., June 23, 2014 – On behalf of Thomas Enterprises, JLL’s Capital Markets today announced the sale of Thomas Ranch, a large scale development site in Sarasota County, Fla. The 9,650 acre site is located both in the City of North Port and in unincorporated Sarasota County. Mattamy Homes and Vanguard Land purchased the property for $86.25 million.

Executive Vice President Scott Cullen, Vice President Justin Bates, Senior Vice President John C. Dunphy and Senior Associate Maria Giesemann led the JLL team on the transaction.

“The site will be able to host nearly every property type and is the largest undeveloped tract of land located between the Gulf of Mexico and Interstate 75 on the coast of Florida,” said Cullen. “Thomas Ranch’s location within the growing Sarasota market and proximity to the Gulf of Mexico and other natural amenities presents Mattamy Homes and Vanguard Land a unique opportunity to develop a large scale project.”

The property totals more than 15 square miles and is zoned for multifamily, office, retail and industrial properties, providing a unique opportunity to develop a new major area for residents to live, work and play. The balance of the property in unincorporated Sarasota County has long been identified for future growth and represents an opportunity for longer term development.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. JLL is the brand name of Jones Lang LaSalle Incorporated. For further information, visit​