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Largest East Coast Land Parcel Hits Market, Could Fetch $1B

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Largest East Coast Land Parcel Hits Market, Could Fetch $1B

A 560K-acre parcel of undeveloped land—the largest such contiguous parcel in America east of the Mississippi River—is on the market. And Foley Timber and Land Company, the owner of the vast swath of acreage in northern Florida, expects it to sell for up to $1B this year. The buyer will get nearly 900 square miles, or Rhode Island-sized, chunk of land devoid of just about everything but the trees constituting Foley's "modest" lumber operation. The area is located between Tallahassee and Gainseville on Florida's Gulf Coast.

Proctor & Gamble once owned the property, and used its cedar and oak trees to make pulp for its diapers. In other interesting trivia the land mass, despite its heft, is one of the few areas in Florida to have never been hit by a hurricane. [NYT]