Florida tomato grower Jim Grainger will be putting up 1,151 acres of Immokalee farmland to auction next month, as part of bankruptcy proceedings to pay down US$38 million in debt.

The land to be sold on Sept. 17 lies between the Hendry and Collier counties, and will be sold in seven tracts ranging from 78 to 307 acres.

"This is very productive land, with about 901 acres planted – 753 acres in vegetable crops and 148 acres planted in citrus," said Ken Nofziger, whose company Murray Wise Associates will conduct the auction in cooperation with Crosby & Associates and Weeks Auction Co.

"It has been operated for years as a complete operation, but by selling in tracts, we will enable growers and investors alike to bid on just the land that fits their business and needs, so we could have one buyer for the entire farm or it could go to as many as seven buyers.

"We'll take bids on any combination of tracts or the entirety, and the land will sell in the combination that brings the highest total price."

Farming equipment will be auctioned on Sept. 18, including numerous tractors, sprayers, irrigation pumps, motors and other well maintained farm machinery.

The Chapter 11 proceedings involve several entities owned by Grainger, including Grainger Farms, Grainger Land and SamAnn Farms.

The three tracts on the western (Collier County) side are 70% plantable, with a 7.5-acre storage yard and equipment shed. The Hendry County land consists of four tracts that are 90% plantable, and includes a five-acre radio tower location that generates significant annual cash flow.

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