The sale of about 165 acres of multigenerational family farmland in Republic, Missouri, opens up the future development of a state highway, educational facilities and new commercial and residential projects.
Sue Carter Real Estate Group, on behalf of Orr Family Trust and Pittman Family Farm, sold three parcels of farmland — a total of 164.89 acres — to the Republic School District, Ozark Motor & Supply Co. and 3 Lips LLC for a total of $8.2 million. The sale was recognized as the sale/acquisition of the year in the Springfield, Missouri, market as part of the 2023 CoStar Impact Awards. The awards were judged by real estate professionals familiar with the market.
The farms sold are located near a 1 million-square-foot Amazon distribution center and Convoy of Hope World headquarters. Republic Parks & Recreation will begin constructing a large sports complex on 137 acres.
Among the projects spurred by the sale are the Iron Grain Retail and Residential District, Great Escape Beer Works microbrewery and restaurant, Boyce PDD and Fieldstone PDD.
About the project: The land sales made way for 415 residential building permits, 16 newly completed residential projects with 11 residential subdivisions, multifamily projects and multiple commercial and industrial projects under construction.
What the judges said: "The donated portion of the land to the school district stands out that can make some positive impacts for the educational community," said Sara Khorshidifard, director of community studies at Drury University.
"I'm familiar with these tracts and to get two families to sell their farms can be a challenge. That area is growing and I'm sure the agents had a lot of moving parts to deal with in getting this closed," said Tom Rankin, owner of SVN Rankin Co.
"This sale will promote future expansion and growth for the City of Republic," said David Havens, senior broker for Jared Commercial.
They made it happen: Sue Carter, broker and owner for Sue Carter Real Estate Group, and Greg O'Neal, realtor for Sue Carter Real Estate Group.